Amneal buys Actavis’ Australian generics business

Amneal Pharmaceuticals has completed its acquisition of Actavis’ Australian-based generic pharmaceuticals business. Financial terms of the deal were not disclosed.

Related: Actavis gains final FDA approval for generic Subutex

Both companies vowed to work expeditiously to complete the transaction without disrupting the distribution of Actavis’ products. Click here to read the announcement.

The agreement grants Amneal, based in Switzerland, the right to distribute Actavis-labeled products on a transitional basis.

Ireland-based Actavis completed a buyout of Botox-maker Allergan Inc. for $66 billion earlier this month. After it gains shareholder approval, Actavis will adopt the Allergan name.