Generics pharmaceutical firm Actavis Inc, formerly known as Watson Pharmaceuticals, has announced it is in the early stages of negotiations to purchase Warner Chilcott Plc, a specialty pharmaceutical company.
Actavis's announcement was curbed by saying that no agreement has been finalized yet and there would be no further comments on the negotiations.
The negotiations were first reported by Bloomberg News, comes after Actavis' failed to merge with Valeant Pharmaceuticals Inc due to differences on the terms of the deal to be finalized.
Warner Chilcott confirmed the discussions by saying, "These discussions are at a preliminary stage and may not lead to an offer for the company." It also added there would be no further comment on the matter unless there are developments which necessitates additional disclosures.
Warner Chilcott is based out of Dublin, Ireland and announced more than a year ago that it was searching for a buyer at a price tag of US$3.8 billion.
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