Actavis Opens Research And Development Labs In Florida
REYKJAVIK, Iceland & MORRISTOWN, N.J. --(Business Wire)-- Actavis South Atlantic (ASA), a United States division of the international generic pharmaceutical company Actavis, has opened new analytical and R&D laboratories to expand the Company's research and development efforts for controlled release (CR) and other technically difficult generic pharmaceutical products.
The new analytical labs have been expanded by 3,000 sq ft and the new R&D labs have been expanded by 1,500 sq ft. As part of the Sunrise, FL expansion, appropriate office space was also added to support both of the lab expansions. The CEO of Actavis Group, Sigurdur Oli Olafsson, participated in the celebration and ribbon cutting ceremony.
Recently launched Actavis South Atlantic products in the United States include Bupropion XL and SR, the generic equivalents of GSK's Wellbutrin XL®* and SR®* as well as Nifedipine ER, the generic equivalent of Bayer's Adalat®** CC.
Actavis U.S. CEO Doug Boothe said, "Actavis in the United States is focused on our vision and commitment to be on the cutting edge of new technology. The expansion of our South Atlantic R&D facility ensures that we remain well-positioned to develop and manufacture XL (extended release) and CR (continuous release) drugs."
Actavis is one of the leading companies in the U.S. market in the development of CR products, with more than EUR 50 million (USD 74 million) expected to be invested in CR development in 2008 and 200 employees dedicated in the development of CR products. Actavis has 13 pending ANDAs for CR products with the FDA.
* Wellbutrin XL and SR are registered trademarks of GlaxoSmithKline
** Adalat CC is a registered trademark of Bayer
About Actavis Group
Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. Based in Iceland, the company has operations in 40 countries, with 11,000 employees.
CR versions of drugs expand the therapeutic application of products and are highly sought after by branded pharmaceutical companies because of their ability to extend product life cycles. Actavis South Atlantic applies its proprietary technologies to selected high value branded pharmaceuticals and duplicates the release characteristics of the originator drugs in order to bring to market generic versions that can be substituted for these branded products.
Any statements contained in this press release that refer to Actavis' estimated or anticipated future results or future activities are forward-looking statements which reflect the Company's current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions, the success of new products, the strength of competition, the success of research and development issues, unexpected contract breaches or terminations, exposure to product liability and other lawsuits, the effect of currency fluctuations and other factors.
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