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Actavis Generics Company Intelligence Report
Espicom Business Intelligence Ltd, Jan 2011, Pages: 18
Actavis, originally named Pharmaco, was created in 1956; in May 2004 it changed itsname to Actavis. The company is headquartered in Iceland, but has manufacturing operations in 14 countries. Actavis employs around 10,000 members of staff operating in some 40 countries.
The company is particularly active in Eastern Europe, such as Bulgaria, Russia, and Serbia, but in recent years has been pushing for a stronger presence in the EU, and in the United States. The company gained its first US ANDA approvals in August 2005, through its Amide subsidiary.
In August 2007, Actavis was taken over by Novator, an investment group which included members of Actavis’ Board. With the takeover complete, Actavis became a private company, with its shares delisted from the Icelandic stock exchange. Actavis had a difficult year in the US in 2008, with product recalls being initiated from its Actavis South Atlantic and Actavis Totowa units. These led to congressional attention.
Actavis has been restructuring in 2010. In February 2010, the firm announced plans to expand its manufacturing site in Iceland, creating 50 new jobs, and plans to divest its
Norwegian plasters, athletic tape and adhesive coatings business. This was followed in March with news that the firm was divesting its Bulgarian distribution business, and in April Actavis announced plans to consolidate its New Jersey manufacturing operations, with the loss of some jobs. In May, the firm announced it had established a regional office for China in Beijing.
In July 2010, Actavis reported that it had successfully agreed a debt refinancing arrangement in collaboration with its lenders. The move should end the uncertainty that Actavis has faced since the global economic crisis began, and speculation that the firm may have had to be sold. On 22nd September 2010, the EC reported it had approved the proposed acquisition by Deutsche Bank of control over Actavis.
In September 2010, Actavis announced plans to enter the field of biosimilars. The move came through an initial agreement with Bioton for Actavis to acquire 51% of Bioton's shares in Biopartners Holdings.
Executive Summary
Espicom's generics company reports will help you to understand the dynamic and complex issues affecting the business of leading generic industry players. These informative reports provide an insight into the company, covering the structure of the business, the most recent quarterly and annual financial results, information on the company's active product lines and ANDA approvals, along with a review of major developments, such as M&A activity, strategic alliances, and litigation.
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