Watson Pharmaceuticals to Become Actavis
Watson Pharmaceuticals (NYSE: WPI) today announced that it will adopt a new global name – Actavis – effective in 2013. The Company said it will initiate a multi-year rebranding campaign for its facilities, operations and commercial presence, and will transition to trading under a new symbol on the New York Stock Exchange in 2013.
"When we announced the proposed acquisition of Actavis in April 2012, we immediately instituted an extensive and accelerated review of our global brand position and naming equities," said Paul Bisaro, President and CEO of Watson. "A pioneer at the dawn of the U.S. generic industry in 1984, the Watson corporate name was never registered globally. As we initiated our global expansion strategy in 2009, it became clear that we could not establish a single, unified market presence under the Watson brand."
"With our expansion into more than 60 commercial markets around the world, we recognized the many benefits of uniting our Company under one name to all stakeholders – customers, consumers, payers, institutions and shareholders and potential shareholders. We initiated an