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Actavis in talks to acquire Warner Chilcott: report

May 10, 2013 1:25 pm by | 0 Comments

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(Reuters) - Generic drugmaker Actavis Inc, formerly Watson Pharmaceuticals, is in early talks to acquire specialty pharmaceutical company Warner Chilcott Plc, according to a report from Bloomberg News.

The discussions follow unsuccessful merger talks between Actavis and Canada's specialty pharmaceutical company Valeant Pharmaceuticals International Inc, which were put on hold as the companies failed to agree to terms of a deal.

At midday on Friday, shares of Warner Chilcott, which had disclosed more than a year ago that it was seeking a buyer, were up $2.77 at $17.78 on the Nasdaq exchange, while shares of Actavis were up $10.29 at $117.10 on the New York Stock Exchange.

Officials at Warner Chilcott and Actavis did not immediately respond to requests for comment.

(Reporting by Deena Beasley; Editing by Gerald E. McCormick)

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