New big generic
Reykjavik - Actavis Group, an international generic pharmaceuticals company operating from Iceland, is to acquire US-based Alpharma generic pharmaceuticals business for $810 million. The move will solidify Actavis' entry into the US generics market and comes shortly after the company's $600-million acquisition of Amide Pharmaceutical Inc., a private US generics company.
As a combined company Actavis seeks to be among the five largest players in generic pharmaceuticals worldwide. It will have more than 600 marketed products, as well as around 10,000 employees in 32 countries. Actavis expects to benefit from Alpharma's products that can be marketed in Actavis' existing markets and vice versa. The companys revenue in 2004 was Euro 452 million.