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Actavis mulls job cuts, China expansion - Bloomberg

Reuters

(Reuters) - Generic drugmaker Actavis Plc (ACT.N) is planning to cut employees and expand in China, a Bloomberg report said citing an interview by Chief Executive Officer Brent Saunders on Bloomberg Television.

However, the report did not say how many positions will be eliminated.

Earlier in November, Botox maker Allergan Inc (AGN.N) accepted a $66 billion takeover bid from Actavis, ending a seven-month hostile pursuit by activist investor William Ackman and Valeant Pharmaceuticals International Inc (VRX.TO).

Brent Saunders had said in the interview that there are overlaps in corporate functions, including human relations and finance, the report noted. (http://bloom.bg/11QY3dX).

Actavis was not immediately available for a comment.

(Reporting By Krishna Chaithanya)