Actavis used Irish unit funds for Botox deal

22nd April, 2015

Actavis pulled €5.7 billion out of its Irish operation earlier this month to help fund its $70 billion deal to buy Botox maker Allergan.

The US pharma company, which is domiciled in Ireland, had a €5.79 billion reduction in its capital approved by the Irish courts earlier this month. Actavis confirmed that this relates to the capital raised for the Allergan deal.

A deal whereby Actavis paid $70 billion to acquire Allergan was completed earlier this month.

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