Actavis, Allergan shareholders OK acquisition terms

Actavis, PLC, and Allergan said on Tuesday that during meetings of the companies' shareholders, all proposals related to Actavis' planned acquisition of Allergan were approved.

The shareholder approvals fulfill certain conditions tied to the closing of the acquisition, which is expected to be final by the end of the first quarter or early in the second quarter of this year.

The closing of the transaction is subject to the satisfaction or waiver of regulatory approvals and other customary closing conditions.

"This acquisition creates the fastest-growing and most dynamic growth pharmaceutical company in global health care, making us one of the world's top 10 pharmaceutical companies," Brent Saunders, CEO and president of Actavis, said.

Actavis, based in Dublin, Ireland, is a global specialty pharmaceutical company focused on developing, manufacturing and commercializing high-quality affordable generic pharmaceutical products. The company develops medicines in the therapeutic category for the central nervous system, women’s health, and gastroenterology, urology, cardiovascular, respiratory and anti-infective uses.

Allergan is a multi-specialty health care company that began as an eye-care company. Allergan is committed to developing and delivering innovative treatments. The company has a portfolio of pharmaceuticals, biologics, medical devices and over-the-counter consumer products.