Actavis and Allergan announced that they have entered into a definitive agreement under which Actavis will acquire Allergan.

Actavis will pay $129.22 US in cash plus Actavis shares for each share of Allergan common stock. Based on the closing price of Actavis shares on November 14, 2014, the transaction is valued at approximately $66 billion, or $219 per Allergan share.

The transaction has been unanimously approved by the boards of directors of both companies and is supported by the two management teams. This consequently puts an end to Valeant’s attempt to take over Allergan that began several months ago and about which much has been written.

The two companies combined will create one of the top 10 global growth pharmaceuticals with expected revenue of $23 billion in 2015. This deal should close in the second quarter of 2015.

For further details on the transaction: http://agn.client.shareholder.com/releasedetail.cfm?ReleaseID=883356

Optometric Services Inc. (OSI) has announced the appointment of Karina Dandavino as the director of marketing.

New to the position, Dandavino’s duties now consist of managing all marketing activities for the company and its subsidiaries.

Dandavino has been a member of the OSI team since 2002 and held a number of positions. Before her recent appointment, she had been assistant director of marketing since 2008.

Given her years of experience within the company, she has acquired a thorough understanding of the optometry industry in Canada. Furthermore, she was a veteran of the fashion world prior to joining OSI.

OSI has also announced that Steve Bélanger, formerly director of marketing accounts at OSI, will step into the position of assistant director of marketing.

For further information, click HERE (French text only)

In the third quarter of 2014, Allergan posted its strongest sales increase in the company’s history.

Allergan’s sales were CA$2 billion in the third quarter, up by 17.2% compared with the same period in 2013. Earnings totalled CA$350 million.

Pharmaceutical eyecare products (including Refresh and Restasis) showed a 14.2% sales increase to CA$915 million.

Allergan could not miss out on trumpeting its success, and perhaps it was thumbing its nose at Valeant. The latter is attempting to acquire Allergan and recently boasted its… second best quarter ever (see news clip from October 30).

For more information: http://agn.client.shareholder.com/releasedetail.cfm?ReleaseID=878172