Icelandic generic pharmaceuticals company Actavis plans acquisitions

According to German media, the Icelandic generic company, Actavis is currently planning its expansion through future acquisitions. CEO at Actavis, Claudio Albrecht is reported to have said “we [Actavis] want to grow in the coming years by an average of ten to twelve percent – faster than the current growth of the market itself.”

According to Albrecht, Actavis could increase its revenue more than 13 percent compared to 2010’s figures, while estimates show that the generics market would grow by 8 percent overall.

Albrecht added that a takeover of the German generics manufacturer, Stada, which is currently valued on the stock market with nearly 1.7 billion euros, is out of the question.

“Since Germany’s generics market is shrinking, due to discount contracts in the health insurance sector, the company [Stada] would be increasingly less attractive for many providers,” commented Albrecht.

Furthermore, according to Handelsblatt, Actavis also plans to market biosimilar diabetes medicines from the Polish drugs maker, Bioton S.A..

Actavis aims to achieve its growth objectives particularly on the world’s largest pharmaceutical market:
“We have a number of products in the pipeline that we want to introduce on to the U.S. market in the near future. Currently, the group makes around 30 percent of its sales in the U.S.,” added Albrecht.

The former Ratiopharm CEO is planning acquisitions in the range of 400 to 500 million euros. The main financier, Deutsche Bank, also supports such acquisitions. According to Albrecht, Actavis has a very positive cash flow, however, specific numbers have not been reported by the company.

For more information about Actavis, visit www.actavis.com.