Tokyo International – Actavis, Warner Buyout.

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Warner Chilcott’s focus on women’s healthcare, dermatology and urology has produced an extensive product range of oral contraceptives Estrostep and Ovcon, as well as Doryx, a treatment for acne. Actavis is most widely known for its pain medication Percocet and it also manufactures generic birth control pills.

According to a spokesperson for the New Jersey based Actavis, reportedly in contact with Tokyo International, the deal is an all stock offering with Warner Chilcott shareholders receiving 0.16 shares in Actavis for each of their shares of Warner Chilcott.

The resulting $20.08 per share has a premium of 4.5 percent over the pre offer closing share price. Actavis will also take on over $3 billion of Warner Chilcott’s debt, bringing the overall value of the transaction to over $8.5 billion.

“This really is the culmination of the Actavis strategy of building a global specialty…

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