Actavis to change name to Allergan

Actavis announced that it will adopt Allergan as its corporate name upon completion of its acquisition of Allergan.

The company plans to use the Allergan name for its global branded pharmaceutical portfolio, but will retain the Actavis name for select geographic regions and product portfolios. Shareholders will vote on the name change at Actavis’ annual general meeting later this year.

"The pending combination of Actavis and Allergan will create a dynamic new breed of company – a leader in growth pharma. By adopting the Allergan name for the corporation we will ensure that our corporate identity reflects the dramatic evolution of our company within the pharmaceutical industry," said Brent Saunders, CEO and president of Actavis.

In November, Actavis announced plans to acquire Allergan in a deal valued at $66 billion, or $219 per share in cash and Actavis shares. The transaction is expected to be complete in the second quarter of 2015.