By Michael Calia
Actavis PLC unveiled its planned management structure for the
company after it closes its acquisition of Botox maker Allergan
Inc., with Actavis Chief Executive Brent Saunders continuing in
that role.
Paul Bisaro, likewise, will remain the board's executive
chairman. The company said the management team will include members
of both Actavis's and Allergan's executive ranks.
Under the new structure, Actavis executive C. David Nicholson
will lead the company's brand pharmaceutical research and
development, while reporting directly to Mr. Saunders. Actavis said
it expects the combined company will have more than two dozen mid-
and near-term products in development.
Actavis's operating chief, Robert Stewart, will lead the
company's generics and global operations, reporting to Mr.
Saunders.
The company's global brand sales and marketing, meanwhile, will
have a three-organization structure: international brands, branded
pharma and Allergan Pharma.
Mr. Saunders has orchestrated more than $100 billion in mergers
and acquisitions in slightly more than a year, with Actavis's $66
billion deal for Allergan--in which the company beat out Valeant
Pharmaceuticals International Inc.'s hostile bid--representing his
biggest move yet.
In a prior interview with The Wall Street Journal, Mr. Saunders
said he would streamline the company, cutting layers of
bureaucracy, jobs and research programs after the deal closes,
which is expected to occur in the second quarter. The company has
said it would cut at least $1.8 billion in costs in addition to
Allergan's planned $475 million in reductions.
Write to Michael Calia at michael.calia@wsj.com
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