Actavis Pharmaceuticals Buys Pfizer Manufacturing Site
Iceland-based pharmaceuticals company Actavis has announced a significant increase in its oncology products manufacturing capability.
Generic pharmaceuticals firm Actavis recently signed an agreement with Pfizer to acquire an Italian manufacturing plant specialising in the production of oncology products.
The site, which covers 300,000 square metres and employs 340 staff, is located in Nerviano near Milan. It was originally founded by Farmitalia in 1965 and has been approved by the US Food and drug administration (FDA), European Union and Japanese regulatory authorities. The site has a broad range of manufacturing capabilities and serves 70 markets around the world.
"The site is truly world-class, with outstanding facilities and a highly skilled and experienced workforce, and has a proven track record as a supplier of high quality products over many years", said Robert Wessman, Actavis CEO.
"This transaction will enable us to meet the exciting growth projections we see for our oncology product portfolio over the coming years. There is significant capacity to support our future plans, together with space for new investment in complementary development and manufacturing activities" Wessman added.
The growing pharmaceutical company plans to develop new products and transfer existing products into Nerviano over the next few years. The site will work closely with Actavis' Bucharest operation which also develops and manufactures oncology products.
Actavis has also entered into a separate long term contract with Pfizer to supply oncology products. The contracts are expected to be completed by the end of this month, expanding Actavis' network of manufacturing sites to 21 plants in 14 countries.
About Actavis
Actavis is one of the world's leading generic pharmaceutical companies specialising in the development, manufacture and sale of generic pharmaceuticals. Based in Iceland, the company has operations in 40 countries and 11,000 employees.
For further information on Actavis and its range of generic pharmaceuticals visit www.actavis.com
SOURCE: Actavis