Actavis considering Almirall acquisition to expand European foothold
- After Actavis' $66 billion acquisition deal with Allergan, the company is considering new takeover targets. Buying Almirall, which is based in Spain, could provide Actavis a basis for growth in the European market.
- The deal would most likely be based on a valuation of Almirall of roughly $3.7 billion.
- Speculation over a potential Actavis acquisition of Almirall sent the latter company's stock skyrocketing.
Almirall made news in July when it sold its respiratory franchise to AstraZeneca for $875 million upfront, with the possibility of another $1.22 billion in payments assuming certain milestones are met.
As Actavis continues searching for suitable acquisition targets, the company's overall goal is to find companies with dermatology and ophthalmology franchises to complement its existing portfolio.