Financial terms are not disclosed by the companies
Amneal Pharmaceuticals is to acquire 'substantially all' of the generics business of Actavis Australia, a subsidiary of Dublin, Ireland headquartered Actavis plc, for an agreed price.
Financial terms of the deal are not available.
The companies said they would work quickly to complete the transaction to prevent disruption of supply.
Actavis will continue to supply the Australian market with these generic medicines until the deal is completed.
The company will continue to promote its non-generic medicines including osteoporosis drug Actonel and bladder treatment Oxytrol, the company said. It will also continue to supply Botox, eye-care products and all other heritage Allergan products.
Actavis will change its name to Allergan nw that its US$70.5bn acquisition of Allergan has gone ahead.
Amneal is a privately-held company with US headquarters in Bridgewater, New Jersey, and international headquarters in Zug, Switzerland.