Watson Pharmaceuticals, Inc. has adopted Actavis, Inc., as its new global name and will today begin trading under a new symbol - ACT - on the New York Stock Exchange.
The company first announced its intention to change its name last year, following its acquisition of the Actavis Group. The combination created the world's third largest generic pharmaceutical company, with anticipated pro forma combined 2012 revenues in excess of $8 billion.
Actavis has initiated a multi-year rebranding campaign that will guide the transition of its facilities, operations and commercial presence around the world to the new company name and logo. The company has launched a new global web site and will today ring The Closing Bell on the New York Stock Exchange.
"Today marks an historic day for Actavis and a milestone in our evolution into a global pharmaceutical leader," said Paul Bisaro, president and CEO of Actavis. "While we have been operating as one company since last year, today we unite all of our 17,000 employees under a single name, trademarked and protected around the world."
"With operations in more than 60 countries and a top 10 position in over 33 markets, Actavis is a dynamic global player that is recognised worldwide as a leader in providing high-quality pharmaceuticals," Bisaro said. "As we move forward into this exciting future for our company, we are committed to continuing the rapid and seamless execution of our integration planning efforts to provide maximum value to all of our customers and shareholders around the world."
Actavis is the world's third-largest generics prescription drug manufacturer. Operating as Actavis Pharma, the Company develops, manufactures and markets generic, branded generic, legacy brands and Over-the-Counter (OTC) products in more than 60 countries.
Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, with a capacity of approximately 40 billion units annually. Actavis Global Operations also includes Anda, Inc., the fourth-largest US generic pharmaceutical product distributor in the United States.