Actavis plc announced that it will adopt a new corporate name – Allergan – following the completion of the acquisition of Allergan Inc. The company said that it intends to use the Allergan name as its corporate name and for its global branded pharmaceutical portfolio, and will retain the Actavis name for select geographic regions and product portfolios. The change in corporate name would be subject to approval by Actavis' shareholders at its Annual General Meeting later this year.
"The pending combination of Actavis and Allergan will create a dynamic new breed of company – a leader in Growth Pharma. By adopting the Allergan name for the corporation we will ensure that our corporate identity reflects the dramatic evolution of our company within the pharmaceutical industry," said Brent Saunders, CEO and President of Actavis. "For more than 65 years, the Allergan name has represented innovation in branded pharmaceuticals, a commitment to bringing the best medicine to life and a strong partnership with physicians. The Actavis name has represented our global commitment to leadership in generic, branded generic and OTC pharmaceuticals and to increased access to more affordable prescription medicine for consumers around the world. Together, our combined company will be equally focused on developing new medicines that meet unmet medical needs in critical therapeutic categories, as well as increasing global access to high quality, affordable medicines."
Actavis will ask shareholders to approve its intention to adopt the Allergan name at its Annual General Meeting of Shareholders later this year, according to a press release. Pending shareholder approval, and formal adoption of the new corporate naming structure, Actavis will continue to operate under its current name and trade on the New York Stock Exchange. Read the full release