Actavis says it will change its name to Allergan after the completion of its $66 billion acquisition of the Botox manufacturer.

The Ireland-domiciled ompany said that it intends to use Allergan name as its corporate name and for its global branded pharmaceuticals and will retain the Actavis name for “select geographic regions and product portfolios”. Chief executive Brent Saunders claimed that the pending combination “will create a dynamic new breed of company – a leader in growth pharma”.

He added that by adopting the Allergan name, “we will ensure that our corporate identity reflects the dramatic evolution of our company within the pharmaceutical industry”.

Revenues leap 46%

The announcement came as Actavis posted a fourth-quarter net loss of $732.9 million, while revenues leapt 46% to $4.06 billion. That rise was aided by a surge in branded drugs such as Namenda (memantine) for Alzheimer's disease and the antihypertensive Bystolic, acquired with the purchase of Forest Laboratories last summer.

However generics still play a huge part for Actavis and Mr Saunders noted that the firm has some 65 first-to-file Abbreviated New Drug Applications (and 230 in total) pending at the US Food and Drug Administration. It has more than 1,200 submissions outside North America.

Mr Saunders also noted that its branded pipeline looks strong in gastrointestinal, CNS, women's health and anti-infectives, “anchored by nine compounds currently in mid or late-stage development that have the potential to generate more than $6 billion in peak sales following launch”.