Actavis CEO to Remain After Allergan Merger

By Michael Calia 

Actavis PLC unveiled its planned management structure for the company after it closes its acquisition of Botox maker Allergan Inc., with Actavis Chief Executive Brent Saunders continuing in that role.

Paul Bisaro, likewise, will remain the board's executive chairman. The company said the management team will include members of both Actavis's and Allergan's executive ranks.

Under the new structure, Actavis executive C. David Nicholson will lead the company's brand pharmaceutical research and development, while reporting directly to Mr. Saunders. Actavis said it expects the combined company will have more than two dozen mid- and near-term products in development.

Actavis's operating chief, Robert Stewart, will lead the company's generics and global operations, reporting to Mr. Saunders.

The company's global brand sales and marketing, meanwhile, will have a three-organization structure: international brands, branded pharma and Allergan Pharma.

Mr. Saunders has orchestrated more than $100 billion in mergers and acquisitions in slightly more than a year, with Actavis's $66 billion deal for Allergan--in which the company beat out Valeant Pharmaceuticals International Inc.'s hostile bid--representing his biggest move yet.

In a prior interview with The Wall Street Journal, Mr. Saunders said he would streamline the company, cutting layers of bureaucracy, jobs and research programs after the deal closes, which is expected to occur in the second quarter. The company has said it would cut at least $1.8 billion in costs in addition to Allergan's planned $475 million in reductions.

Write to Michael Calia at [e-mail]

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