Actavis Pharmaceutical Buys Botox Manufacturer Allergan in $66 Billion Dollar Deal

Actavis Pharmaceutical has acquired Botox manufacturer, Allergan, in a $66 billion dollar deal today. This deal was valued at $219 per share.

Botox is Allergan’s #1 bestselling product, used cosmetically to reduce lines and wrinkles and create an aesthetically youthful appearance. Botox has also been used for medical purposes, such as migraines and involuntary muscle spasms. Botox is currently being studied to provide medical assistance with other medical issues, such as osteoporosis and urinary incontinence.

“We will establish an unrivaled foundation for long-term growth, anchored by leading, world-class blockbuster franchises and a premier late-stage pipeline that will accelerate our commitment to build an exceptional, sustainable portfolio,” Brent Saunders, chief executive of Actavis, stated.

It’s reported that this acquisition between Allergan and Actavis positions them in the top global drug makers, making this the biggest pharmaceutical deal of 2014.