SPOTLIGHT: Actavis buys ZiO Zdorovje for $60M

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