Банкеръ Weekly

Briefs

ACTAVIS APPLIES FOR EU LICENCE

By September the Danish Medicines Agency will inspect and licence the factory of Actavis AD in Doupnitsa, the company's Executive Director Vladimir Afenliev announced. The products, manufactured by the enterprise will be exported to the EU afterwards. Mr. Afenliev specified that the production lines in Razgrad already make medicines that sell in some EU countries - Poland, the Czech Republic and the Baltic republics. Since the year 2000 when the Iceland-registered Pharmaco pharmaceutical group (presently Actavis), acquired Balkanpharma, till 2004, its investments in Bulgaria exceeded USD60MN. Most of the money was spent for introducing the Good Manufacturing Practice (GMP) standards. Investments worth EUR40MN have been planned for 2005, Mr. Afenliev announced. The company's management intends to sell the production line for veterinary medicines in the Razgrad plant. The deal is presently negotiated with Biovet of Peshtera. The turnover of Actavis went up by 42.9% in 2004 and its net profit increased by 54.6%, reaching EUR63MN. About 21% of the company's aggregate sales have been made in the Bulgarian pharmacies.Having bought the US generic pharmaceutical company Amid, the Actavis group now intends to get a firm hold of the American market. The deal is worth USD500MN. Ten new medicines, produced by Amid, are expected to be registered in 2005. The company's 2004 profit was USD52.5MN, and its proceeds totalled USD106.7MN.

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