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Iceland's Actavis May Sell Bioton's Insulin As Companies Plan to Sign Deal

Actavis Group hf, an Iceland-based maker of generic drugs, and Bioton SA, a Polish insulin producer, plan to sign a cooperation agreement by the end of this year, Bioton said in a regulatory statement yesterday.

Upon the deal Actavis will be responsible for distributing Bioton’s products, with both companies participating equally in costs and profits of the project.

Actavis will pay Bioton one-off compensation that won’t exceed 500 million zloty ($174 million), the Warsaw-based company said, adding that the exact amount will be set in the final agreement.

To contact the editor responsible for this story: Maciej Martewicz at mmartewicz@bloomberg.net

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