Actavis to buy Forest Labs for $25B and GT Advanced Tech acquires exclusive rights from Kyma Tech


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NYSE:ACT / NASDAQ:GTAT
02/19/2014 [ACCESSWIRE]

Irelend based Actavis plc (NYSE: ACT) is offering about $25 billion to buy Forest Laboratories of New York Inc. allowing it to speed to the world's No. 15 drug maker by revenue. Actavis, who sells hundreds of generic brand-name and nonprescription medicines, wants to add more new brand-name drugs to its portfolio, which Forest has. Plus Forest has the big network of U.S. sales reps targeting family doctors that Actavis lacks.

Actavis said it will pay $26.04 in cash and a third of an Actavis share for each Forest share. The total, per-share price of $89.48 is about 25 percent more than Forest's $71.39 closing price Friday.

Paul Bisaro, chairman and CEO of Actavis, said the combination will now have six drugs awaiting approval by the U.S. Food and Drug Administration and 10 others in late-stage patient testing, including three biologic drugs. "It pushes us up the food chain a little bit," Bisaro said of the deal. "We don't have an objective of size. What we have is an objective of growth for our shareholders."

Actavis plc, an integrated specialty pharmaceutical company, develops, manufactures, markets, and distributes pharmaceutical products in the United States, Canada, and internationally. It offers generic, branded, branded generic, biosimilar, over-the-counter, biologic, and specialty pharmaceutical products in various formulations, including modified release, solid oral dosage, semi-solids, liquids, gels, transdermal products, and injectables; and develops and out-licenses generic pharmaceutical products to customers through its third-party business.

Get more information on Actavis plc and free access to the in-depth equity report at: www.TrendingWallStreet.com/stockquote/ACT

 

Shares of GT Advanced Technologies Inc. (NASDAQ: GTAT) rocketed to a new one year of $12.74 on Tuesday with well over 12 million shares. The stock was one of the biggest gainers in the NASDAQ closing up 8.31%. The company announced that it has acquired exclusive rights from Kyma Technologies, Inc. for its plasma vapor deposition (PVD) process technology and know-how. The PVD of nano-columns (PVDNC(TM)) technology developed by Kyma deposits a high-quality growth initiation layer of aluminum nitride (AlN) on wafers prior to gallium nitride (GaN) deposition.

The company plans to commercialize a PVD tool that will complement its hydride vapor phase epitaxy (HVPE) system, which is currently in development. The combined offering will provide LED manufacturers with a higher throughput, lower cost solution to produce gallium nitride (GaN) templates on patterned or planar wafers. GT already has a high volume prototype tool incorporating Kyma's PVDNC technology and expects to offer a production-ready tool in the first half of 2015.

GT Advanced Technologies Inc. is a leading diversified technology company producing advanced materials and innovative crystal growth equipment for the global consumer electronics, power electronics, solar and LED industries. Its technical innovations accelerate the use of advanced materials, enabling a new generation of products across this diversified set of global markets.

Get more information on GT Advanced Technologies Inc. and free access to the in-depth equity report at: www.TrendingWallStreet.com/stockquote/GTAT

 

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