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PD breaking news – Actavis to exit Australian generics

Allergan Australia and New Zealand acquisition completed. 

Actavis has confirmed it will exit the Australian generics business, as part of the completed acquisition of Allergan Australia and New Zealand.

This included the generic hospital, generic pharmaceutical, Pierre Fabre and Medico businesses.

“In the interim, Actavis will continue to supply the Australian market with high quality generic medicines through its current distribution channels while alternative distribution models are actively explored.”

The Actavis New Zealand generic market would continue with no change.

Actavis would also seek shareholder approval to change its name to Allergan in May or June, although the Actavis name could continue to be used for certain regions and products, Allergan said.

Allergan ANZ vice president and md Glen Curran said it was “very much business as usual” and in the short term, the company was working to integrate the companies smoothly.

“During this process we are committed to keeping all of our customers informed of our progress.”

The combined company would offer an expanded portfolio of innovator products, Allergan said.

Curran said about $1.7b would be invested globally in R&D this year.

For more, see tomorrow’s Pharmacy Daily.


The above Breaking News Alert was sent to Pharmacy Daily subscribers on 25 Mar 15

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