Actavis

Ireland-based pharmaceutical firm Actavis has signed an agreement to acquire Auden Mckenzie for approximately £306m in cash.

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

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

Actavis CEO and president Brent Saunders said: "Auden Mckenzie is one of the leading pharmaceutical companies in the UK, and the opportunity to combine this profitable and growing company into the Actavis UK business demonstrates our commitment to invest in and expand strategically in our global generics business."

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

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"The opportunity to combine this profitable and growing company into the Actavis UK business demonstrates our commitment to invest in and expand strategically in our global generics business."

Its product portfolio includes a wide range of molecules in various dosage forms to treat 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 approximately 40 additional products in different dosage forms to treat broad spectrum of therapeutic areas.

Auden Mckenzie managing director Amit Patel said: "Since its inception in 2000, Auden Mckenzie has established a notable position among the UK niche generic businesses by adopting a dynamic and entrepreneurial approach to developing and marketing generic medicines."

The transaction is expected to be completed in the first quarter of 2015, subject to certain conditions, including approval by regulatory authorities

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