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Actavis the New Watson

Thu, 01/24/2013 - 10:42am

Watson Pharmaceuticals Inc. said it has changed its name to Actavis Inc. following its purchase of the Swiss drugmaker in October.

As part of the change, the company's New York Stock Exchange ticker symbol switched to "ACT" from "WPI."

Watson agreed to buy Actavis Group in April for about $5.6 billion. It completed the deal on Oct. 31 and announced the planned name change on that date. The new Actavis is the third-largest generic drug company in the world and has about $8 billion in annual revenue.

Date: January 24, 2013
Source: Associated Press

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