Ireland-based pharmaceutical firm Actavis has completed the acquisition of Auden Mckenzie Holdings for around £306m in cash.

The deal also includes a two-year royalty on a percentage of gross profits of one of Auden Mckenzie’s products.

Actavis CEO and president Brent Saunders said: "The acquisition of Auden Mckenzie is a strategic combination that makes Actavis the number one generic company in the UK and aligns with our strategy to establish a leading position in all of our markets, franchises and therapeutic categories."

Auden Mckenzie is a privately owned company, which is involved in the development, licensing and marketing of niche generic medicines and proprietary brands in the UK.

The company specialises in the development and registration of technically demanding formulations and also pursues first-to-file opportunities.

"The acquired business will add around 175 new generic and branded products."

Its product portfolio includes a wide range of molecules in various dosage forms to treat a broad spectrum of therapeutic areas.

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Currently, Actavis supplies approximately 650 generic products in the UK, and has around 85 additional products under registration and development.

The acquired business will add around 175 new generic and branded products, as well as a pipeline of about 40 additional products in different dosage forms to treat broad spectrum of therapeutic areas.

Actavis executive vice-president and generics and global operations president Robert Stewart said: "Auden Mckenzie’s expertise in the development and commercialisation of high value, technically demanding formulations as well as specialised and niche opportunities is complementary to and expands Actavis’s UK business focus."

Image: Actavis Biologics Ltd, Estuary Banks, Liverpool. Photo: courtesy of Rept0n1x.