Actavis Announces Agreement with Zhejiang Chiral Medicine Chemicals Co., Ltd
to Divest Actavis Foshan, China
DUBLIN, Jan. 24, 2014
DUBLIN, Jan. 24, 2014 /PRNewswire/ --Actavis plc (NYSE: ACT) today announced
that it has signed and completed an agreement for Zhejiang Chiral Medicine
Chemicals Co., Ltd to acquire Actavis' interest in Actavis (Foshan)
Pharmaceuticals Co., Ltd., an Actavis subsidiary based in Foshan, China.
Actavis intends to continue further commercial operations in China in
collaboration with its preferred business partners.
"Actavis is focused on strengthening our investment in high-growth markets
where our size and scale allow us to maintain a competitive presence with the
leading companies in the market," said Sigurdur Oli Olafsson, President,
Actavis Pharma. "Our operations in Foshan were limited in scope and we
believe that their value will be better capitalized on by Chiral, which will
add manufacturing and marketing capabilities allowing them to expand their
portfolio and strengthen their position in the Chinese market. I thank all
employees at Foshan for their contribution to our business to date, and wish
them success under the new ownership."
Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical
company focused on developing, manufacturing and distributing generic, brand
and biosimilar products. Actavis has global headquarters in Dublin, Ireland
and U.S. administrative headquarters in Parsippany, New Jersey, USA.
Actavis markets generic, branded generic, legacy brands and Over-the-Counter
(OTC) products in more than 60 countries, and operates a global branded
specialty pharmaceutical business focused in the Women's Health, Urology,
Gastroenterology and Dermatology therapeutic categories. Actavis also has a
portfolio of five biosimilar products in development in Women's Health and
Oncology. Actavis Global Operations has more than 30 manufacturing and
distribution facilities around the world, and includes Anda, Inc., a U.S.
pharmaceutical product distributor.
For press release and other company information, visit Actavis' Web site at
Actavis Forward-Looking Statement
Any statements contained in this press release that refer to future events or
other non-historical facts are forward-looking statements that reflect
Actavis' current perspective of existing trends and information as of the date
of this release. Forward looking statements generally will be accompanied by
words such as "anticipate," "believe," "plan," "could," "should," "estimate,"
"expect," "forecast," "outlook," "guidance," "intend," "may," "might," "will,"
"possible," "potential," "predict," "project," or other similar words, phrases
or expressions. Except as expressly required by law, Actavis disclaims any
intent or obligation to update these forward-looking statements. Actual
results may differ materially from Actavis' current expectations depending
upon a number of factors affecting Actavis' business. These factors include,
among others, the inherent uncertainty associated with business and financial
projections; risks of fluctuation in foreign currency exchange rates; changes
in generally accepted accounting principles; risks that the carrying values of
assets may be negatively impacted by future events and circumstances; the
impact of competitive products and pricing; market acceptance of and continued
demand for Actavis' products; difficulties or delays in manufacturing; the
difficulty of predicting the timing or outcome of regulatory agency approvals
or actions, if any; and other risks and uncertainties detailed in Actavis'
periodic public filings with the Securities and Exchange Commission, including
but not limited to Actavis' Quarterly Report on Form 10-Q for the quarter
ended September 30, 2013 and from time to time in Actavis' other investor
communications. Except as expressly required by law, Actavis disclaims any
intent or obligation to update these forward-looking statements.
CONTACTS: Investors: Media:
Lisa DeFrancesco Charlie Mayr
(862) 261-7152 (862) 261-8030
(Logo: http://photos.prnewswire.com/prnh/20130124/NY47381LOGO )
SOURCE Actavis plc
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