By Neil Haggerty
Actavis PLC said Monday it has changed its name to Allergan PLC,
three months after acquiring the maker of the antiwrinkle treatment
Botox.
The company will change its stock symbol to "AGN" on the New
York Stock Exchange.
The new Allergan said it has begun a world-wide rebranding
campaign that will transition its facilities and operations to the
new company name. The company's U.S. and Canadian generics business
will continue to operate under the Actavis name because of the
name's familiarity with customers, it said.
Actavis acquired Allergan in a deal valued at $70.5 billion, the
biggest from 2014. The deal ended one of the year's more dramatic
takeover battles in which Dublin-based Actavis beat out Valeant
Pharmaceuticals International Inc. for Allergan.
The combined Actavis and Allergan created one of the world's
largest drug makers by sales, offering a range of eye, skin and
stomach drugs. In May, Actavis said it expects revenue of up to $21
billion this year.
The company has a market cap of more than $117 billion, which is
more than Bristol-Myers Squibb Co., Eli Lilly & Co. and AbbVie
Inc., according to FactSet.
Write to Neil Haggerty at neil.haggerty@wsj.com
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