866-997-4948(US-Canada Toll Free)

Published on : Oct 20, 2014

Actavic Plc has declared that it will become one of the bidders for the Omega Pharma NV deal, as the United States based drug maker keeps searching for more takeovers.

Actavis will be competing against Boehringer Ingelheim GmbH, Sanofi and Perrigi Co. for Omega Pharma. Actavis places themselves as a potential suitor along with quarry in a multitude of potential pharma combinations.

The Belgian consumer healthcare company could fetch about US$ 5.1 in the sale. The sale is being governed by Morgan Stanley. Final offers for Omega Pharma are due by early November and the bidders are currently undertaking their due diligence.

Actavis shares increased by 1.5 percent yesterday during the late trading hours to reach US$230.06, after closing in New York at US$226.67.

Actavis acquired a tax domicile last year by taking over Warner Chilcott Plc. Actavis, the company which is run from Parsippany, New Jersey, has also agreed to acquire Durata Therapeutics Inc., earlier this month to obtain an antibiotic for skin infections for US$675.

Actavis has already approached Allergan Inc. to forge a deal, while trying to escape a hostile takeover from Valeant Pharmaceuticals International Inc. Salix Pharmaceuticals Ltd. has had a separate talk with Actavis about business acquisition.

Omega Pharmaceuticals produces over the counter drugs such as Solpadeine, a painkiller. The company was valued at 848 million Euros after its founder and CEO Marc Coucke took is private. He did so with Waterland Private Equity Investments BV and other co-investors in 2012. The company worked for 13 years as a public company.