Actavis confirmed that it has entered into early stage discussions with Warner Chilcott regarding a potential pharma merger of the two companies.
Actavis further stated that no agreement has been reached and it does not intend to issue further comment regarding its business development initiatives.
Warner responded with a similar statement.
Bloomberg reported earlier today that the companies were in acquisition talks, citing people familiar with the matter who asked not to be named because the discussions were private. The negotiations come a few weeks after Actavis weighed a merger with fellow generics maker Valeant Pharmaceuticals, said the people.
Shares in both companies rose on the announcement.
More than a year ago, Warner Chilcott disclosed that it was in discussions with potential bidders and conducting a strategic review. Actavis was among the suitors that considered an offer for the company during that process, said another person.
Read the full story at Bloomberg (link no longer available)
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