Watson Pharma now trading as Actavis; Dr Reddy's debuts generic Clarinex Reditabs in USA

US generic drugmaker Watson Pharmaceuticals (NYSE: WPI) announced last week that the company has adopted Actavis Inc as its new global name and has begun trading under a new symbol - ACT - on the New York Stock Exchange.

The company first announced its intention to change its name last year, following its $5.6 billion acquisition of Actavis last year. The combination created the world's third largest generic pharmaceutical company, with anticipated pro forma combined 2012 revenues in excess of $8 billion. Actavis has initiated a multi-year rebranding campaign that will guide the transition of its facilities, operations and commercial presence around the world to the new company name and logo.

"With operations in more than 60 countries and a top 10 position in over 33 markets, Actavis is a dynamic global player that is recognized worldwide as a leader in providing high-quality pharmaceuticals," said Paul Bisaro, president and chief executive of Watson, adding: "As we move forward into this exciting future for our company, we are committed to continuing the rapid and seamless execution of our integration planning efforts to provide maximum value to all of our customers and shareholders around the world."