Watson Pharmaceuticals, a US generic drugmaker, has finalized the acquisition of Actavis, which is the biggest producer of medications in Bulgaria.

The deal price has been set at EUR 4.25 B.

The acquisition creates the world's third largest generic pharmaceutical company, with anticipated pro forma combined 2012 revenues in excess of USD 8 B.

The two companies will join forces under the new global name – Actavis – next year.

Watson Pharmaceuticals is focused on developing, manufacturing and distributing generic, brand and biosimilar products.

The new amalgamation will have more than 750 products marketed globally through operations in more than 60 countries.

It holds a top 10 position in over 33 markets including the US, UK, Canada, Australia, Nordics and Russia, and is also the fastest growing generic pharmaceutical company in Western Europe.

In Bulgaria, Actavis owns the pharmaceutical factories in the towns of Troyan and Dupnitsa, which were privatized in 1999, and the antibiotics plant in the city of Razgrad, which was privatized earlier. After the deals in Bulgaria, the company had about 20 more acquisitions across the globe.

In 2007, Irish billionaire and Iceland's richest man Bj?rg?lfur Thor Bj?rg?lfsson took Actavis private in a deal that gave the business an enterprise value of EUR 4.8 B. The transaction was financed by Deutsche Bank, which in 2008 renegotiated more than EUR 3 B in debts with Actavis and remains a creditor.

Deutsche Bank, which controls the company, holds EUR 3.5 B of Actavis.

In June 1999, "Balkanpharma," in which Deutsche Bank was a main investor, paid 55% from "Troyapharm," 55% from "Pharmacia," and 51% of "Antibiotic" with prices respectively USD 7.4 M, USD 11 M and USD 5.7 M.

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