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US: Stocks rise on $8.5B drug maker buyout

By  |  May 20, 2013

Generic drug company Actavis announced Monday plans to buy Warner Chilcott for $8.5 billion in an all-stock buyout leading to a rise in shares for both companies. According to a press release offered by Actavis, the deal will lead to a new conglomerate generating $11 billion in annual revenue. According to the generic drug company, the move is part of its agenda to strengthen its specialty pharmaceutical operations. Actavis made a $5.9 billion buyout of Watson Pharmaceuticals last October, launching the company onto the global stage.

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