11. Actavis  $13.8B ▼2.4%

Global revenue: $16.0B (17th); down 0.8%
Top brands: Namenda; Linzess; Teflaro (US sales revenue N/A)
Promotional spend: $1.4B (3rd); 10.1% of rev.
R&D spend: $1.1B (18th); up 78.2%; 6.9% of rev.
Planned launches: DARPin (ophthal.); Semprana (CNS); ariprazine (CNS); dalbavancin (infec.)
Patent expirations: Namenda (2015)

According to Actavis CEO Brent Saunders, the days of reaping easy profits from “me-too” branded products are over. The future, he believes, belongs to pharmaceutical companies that can either innovate to meet unmet medical needs or supply low-cost medications (i.e., generics) to large global markets—or do both, like his company. Actavis enjoyed a strong reputation in generics before outbidding Valeant Pharmaceuticals last year to acquire Allergan, paying $66 billion for the company and its blockbuster franchises in ophthalmology, neuroscience and aesthetics. The merger, the fourth largest in pharmaceutical history, gives Actavis newfound cachet in R&D culture plus a robust pipeline that will be a key to future success. In fact, the company plans to change its name to Allergan sometime this year. Saunders hopes to launch seven to ten new products in 2016 and maintain a similarly rigorous output moving forward, he says. Launches to watch include: DARPin, an age-related macular-degeneration drug with easier dosing; Levadex, an inhaled migraine abortive; cariprazine, to prevent schizophrenia relapse; and Natrelle Inspira, a breast implant. 

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