Edwin Miska, Director of Equities at First Investors Corporation, came to own Actavis plc (ACT) through M&A events and has seen the stock outperform due to its continued consolidation activity.
“We had very strong performance in our health care stocks. Actavis, a larger generic and branded drug manufacturer, was one of the leaders,” Miska said. “This was not the holding we bought, however. In fact, we wound up owning Actavis through M&A events.”
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Miska came to own Actavis through its acquisition of both Watson Pharmaceuticals and Warner Chilcott, and is looking forward to the company’s future M&A activity.
“They are largely a consolidation player in the specialty pharmaceutical and generic pharmaceuticals space. They recently announced another deal, as they will acquire Forest Labs (FRX), generating further earnings accretion and potential upside for us,” Miska said.
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