actavis

Actavis to buy Abrika Pharma in $238M deal

Wed, 29 Nov 2006 19:01:34 -0500

Iceland's generic drug maker Actavis has agreed to buy Abrika Pharmaceuticals in the U.S. for up to $238.5 million. Actavis will make an initial payment of $110 million in cash and up to $125 million based on its performance over the next three years. Actavis says the deal will make it a leader in the U.S. for controlled-release drugs. The Icelandic company recently lost a bidding war with Barr for Croatia's Pliva.

- here's the report on the buyout

Related Article:
Actavis buys ZiO Zdorovje for $60M. Report
Actavis ups ante in bidding war for Pliva. Report

SPOTLIGHT: Actavis buys ZiO Zdorovje for $60M

Mon, 20 Nov 2006 19:01:33 -0500

Generic drug maker Actavis has announced that it has acquired a 51 percent controlling interest in Russian manufacturer ZiO Zdorovje. The total deal is for $60 million, and Actavis says that it hopes the investment will give it a foothold in the expanding Russian generics market. "We believe that the combination of our local manufacturing expertise with Actavis' extensive product portfolio will significantly enhance the growth prospects for both businesses and we are very excited about working together," said Vladimir Ageev, General Director of ZiO Zdorovje, in a prepared statement. Release

Press Release: Actavis expands presence in Russia

Maureen Martino — Mon, 20 Nov 2006 10:01:23 -0500

Actavis expands presence in Russia

Purchase of majority stake in Russian manufacturing facility strengthens position in fast growing market.

Actavis announced today that it has acquired a 51% controlling interest in ZiO Zdorovje, a leading Russian pharmaceutical manufacturer.

The total commitment by Actavis is EUR47 million (US$60 million), of which EUR23 million (US$30 million) will be made available for investment for ZiO Zdorovje's world class manufacturing site to introduce new products and create a platform for increased production and capacity. This investment combined with the 49% stake that the current owners of ZiO Zdorovje will retain in the business going forward, underlines how committed both parties are to working closely together going forward.

Strategic Rationale
Russia is one of the fastest growing markets in the generic industry with growth forecast at an annual rate of 15-17% during next 5 years. Russia is already Actavis' seventh largest market, accounting for approximately 4% of the Groups annual sales. Actavis is confident that this transaction will significantly enhance its prospects in the Russian market and establish a platform for sustainable growth going forward.

The transaction will enable Actavis to transfer production of certain products to Russia and provide the Group with a local manufacturing presence that will help to facilitate participation in state hospital tenders.

About ZiO Zdorovje
The company, established in 2001, is located in Podolsk (about 20 kilometers from Moscow) with 140 employees. Current capacity is approximately 2 billion tablets and capsules in addition to 20 million sachets a year. The factory is GMP (Good Manufacturing Practice standard) approved and is one of the first Russian manufacturers to get ISO 9001:2000 certificate (the quality management system).

The Company produces 12 generic medicines and sells mainly to state medical institutions and through the Russian federal reimbursement program, providing a solid revenue base. ZiO Zdorovje is forecasting revenues of EUR21 million (USD27 million) in 2006. In 2007, the Company is expected to have revenues of EUR31 million (US$40 million), with an EBITDA level in line with Actavis Group average.

Financing
The purchase consideration will be paid from Actavis' existing committed bank facilities.

Commenting, Robert Wessman, President and CEO of Actavis Group said:
"ZiO Zdorovje is recognized internationally as the owner of one of the best manufacturing plants in the Russian market. The Company has an outstanding performance track record which has earned it a strong reputation throughout the country. This transaction therefore represents an important milestone for Actavis' expansion in Russia by providing us with a local manufacturing presence, crucial for our continued growth in this market."

Commenting, Vladimir Ageev, General Director of ZiO Zdorovje said:
"This transaction unites two world class businesses to create a powerful new force in the Russian market. We believe that the combination of our local manufacturing expertise with Actavis' extensive product portfolio will significantly enhance the growth prospects for both businesses and we are very excited about working together."

Barr gains majority of Pliva shares

Tue, 10 Oct 2006 20:01:34 -0400

Barr Pharmaceuticals would appear to have won the battle for Croatia's Pliva with its announcement that it has acquired more than 70 percent of the drug maker's stock. Barr had been in a bidding war with Actavis for control of Pliva. If Barr completes the deal, which seems likely, it will create the world's third largest generic drug maker.

- Here's the article from the International Herald Tribune

SPOTLIGHT: Actavis receives warning letter

Wed, 13 Sep 2006 20:01:33 -0400

The FDA has issued a warning letter regarding Actavis' manufacturing facility in Little Falls, NJ. The agency has questioned its reporting of adverse medical events and raised questions regarding the marketing status of older products. No new products will be made there until the agency's concerns are satisfied. Report

Actavis ups ante in bidding war for Pliva

Wed, 30 Aug 2006 20:01:37 -0400

Iceland's Actavis has upped its bid to acquire Croatia's Pliva to $139 a share, surpassing the latest offer from Barr. But analysts say the bidding war isn't over yet. They're waiting to see how Barr reacts to this latest bid and many expect yet another higher bid to hit the table. The winner in the bidding war for Pliva will create the world's third largest generic drug maker, behind Teva and Novartis.

- see the AFX report on Actavis' bid

ALSO NOTED: Xyotax trial indicates efficacy; Wyeth encouraged by FDA meeting cancellation;and much more...

Tue, 22 Aug 2006 20:00:50 -0400

> Cell Therapeutics reported that more than half of the patients in a small Phase I dosing study of its cancer therapy Xyotax saw tumors shrink or disappear. Of 12 patients with cancer limited to a local region, four saw tumors disappear and seven had their tumors shrink by more than 50 percent. Report

> Wyeth says its encouraged by a recent decision by the FDA to cancel an advisory committee meeting to discuss its antidepressive desvenlafaxine succinate extended release, saying the agency didn't need the additional input to make a decision. Report

> The board of Croatia's Pliva is backing a $2.3 billion acquisition bid from Barr Pharmaceuticals. Barr has been in a bidding war with Actavis for Pliva. Pliva's board warmly endorsed Barr's plans to boost its operations and hire more staffers. Report

> The FDA has approved the use of Keppra (levetiracetam) as adjunctive therapy in the treatment of myoclonic seizures in adults and adolescents 12 years of age and older with juvenile myoclonic epilepsy. Release

> An independent data safety board has recommended that YM Biosciences continue its Phase III trial of its tesmilifene breast cancer treatment. Report

> Celera Genomics has won a $900,000 NIH grant to develop a rapid diagnostic test for bird flu. Report

> And Finally… New research indicates that baby boomers who are only modestly overweight still face a significantly higher risk of death. Report

ALSO NOTED: FDA delays Adderall decision;Actavis raises Pliva bid; and much more...

Thu, 20 Apr 2006 20:00:50 -0400

> Shire says that the FDA has told the company that it hasn't been able to make a decision on its concerns that copycat versions of Adderall XR are too easy to produce. Shire wants the agency to require more rigorous bioequivalence testing. Report

> Iceland's Actavis has raised its bid for Pliva by 11 percent. Report

> Omrix Biopharmaceuticals has priced its IPO at $10 a share. Report

> NovaDel has raised $12 million from a stock sale to fund new clinical development work. Release

> Akorn and India's Natco have inked a deal to commercial two injectable therapies. Release

> An updated safety review by Nymox of NX-1207 for benign prostatic hyperplasia has revealed no serious side effects. Report

> GTx is launching a Phase IIIb trial of Acapodene in men undergoing androgen deprivation therapy for prostate cancer. Report

> The FDA has yet to complete a review of Advancis' marketing approval request for additional Keflex products. Keflex is a popular antibiotic. Release

And Finally… Researchers have found a genetic link for the hard-to-diagnose chronic fatigue syndrome. Article

SPOTLIGHT: Actavis bids $1.6 billion for Pliva

Thu, 16 Mar 2006 19:01:33 -0500

In a new sign of the ongoing consolidation of the global generic drug business, Iceland's Actavis has bid $1.6 billion to buy Pliva. If successful, a merger would create the third largest generic drug company in the world. Pliva shareholders will now have to consider a bid of $94.31 a share, a 34 percent premium of Pliva's three-month average. Release

DEALS: Actavis buys Amide Pharmaceuticals

Wed, 25 May 2005 20:01:32 -0400

Actavis buys Amide Pharmaceuticals

DEALS
WHO	WITH	WHAT	SCOOP
Bionomics	Iliad Chemicals	$9M buyout	The deal is intended to help beef up Bionomics' pipeline toward its goal of having two Phase II products and five preclinical programs by 2008.
Actavis	Amide Pharmaceuticals	$500M buyout	The buyout gives Actavis a much bigger beachhead in the American generics market, making it easier to sell generic drugs and introduce new pharmaceuticals.
Cephalon	Salmedix	$160M buyout	Researchers at Salmedix have been testing Treanda as both a treatment for non-Hodgkin's lymphoma for patients who have not responded to Rituxan and a complement to Rituxan.
Invitrogen	Caltag Laboratories	$20M buyout	The deal adds Caltag's library of antibodies to Invitrogen's rapidly expanding stockpile.
BioXell	Merck	$150M drug development pact	Merck has agreed to pay up to that amount to develop the company's lead product, TREM-1, which targets a receptor on specific immune cells.
Lexicon Genetics	Organon Labs	Drug collaboration	The research work will concentrate on 300 genes that encode therapeutic antibodies and proteins.