UPDATE 2-New drugs help Actavis beat profit estimates

Thu May 2, 2013 12:20pm EDT
 
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* First quarter adj EPS $1.99 vs est $1.86

* First quarter rev $1.90 bln vs $1.97 bln

* Raises 2013 adj EPS outlook to $8.10-$8.50 from $7.70-$8.10

* Shares up 2 pct

By Esha Dey

May 2 (Reuters) - Generic drugmaker Actavis Inc, formerly Watson Pharmaceuticals, reported a higher-than-expected first-quarter profit after launching several new products, and raised its full-year profit forecast.

The company, the topic of takeover chatter last week, also said it was in "routine discussions" for product deals and even large-scale merger and acquisitions.

Over the weekend, Reuters reported that a proposed merger of Actavis with Canada's specialty pharmaceutical company Valeant Pharmaceuticals International Inc was put on hold as the companies failed to agree on the terms of a deal.

Actavis said it was focused on creating a global specialty pharmaceutical company and could not comment further until there was something concrete to report on.   Continued...