Company Website:
http://www.amneal.com
MELBOURNE & SYDNEY, Australia -- (Business Wire)
Amneal Pharmaceuticals Pty Ltd and Actavis Australia Pty Ltd, a
subsidiary of Actavis plc (NYSE: ACT), today announced they have signed
a binding letter of intent which provides that Amneal intends to
acquire substantially all of Actavis’ in-country generic pharmaceuticals
business for an agreed price, subject to completion of confirmatory due
diligence and definitive agreements.
Financial terms of the agreement are not available. However, both sides
have agreed to work expeditiously to complete the transaction with the
goal of preventing disruption of supply to existing purchasers of
Actavis’ products.
Actavis will continue to supply the Australian market with these high
quality generic medicines on the PBS and fulfill supply commitments for
all hospital tenders until this transition is complete.
Importantly, for the non-generic business, Actavis will continue to
promote and distribute branded medicines in the portfolio including but
not limited to products such as ACTONEL® and OXYTROL®. A dedicated GP
sales team will be maintained with the responsibility for supporting GPs
and specialists who prescribe primary care products, including ACTONEL®.
Actavis will also continue to supply BOTOX®, eye-care products and all
other heritage Allergan products.
About Amneal Pharmaceuticals LLC
Amneal Pharmaceuticals LLC is a global supplier of generic
pharmaceuticals, vertically-integrated across the entire supply chain
from R&D to finished goods. Since its inception in 2002, Amneal has
invested extensively in R&D resources, manufacturing infrastructure, and
strategic expansion opportunities—all contributing to its significant
growth. The Company prides itself on its unwavering commitment to
quality, strong business relationships, and innovative approach to
maximizing value. Amneal is privately-held with U.S. headquarters in
Bridgewater, New Jersey, and international headquarters in Zug,
Switzerland. For more information, please visit www.amneal.com.
About Actavis
Actavis plc (NYSE: ACT), headquartered in Dublin, Ireland, is a unique,
global pharmaceutical company and a leader in a new industry model –
Growth Pharma. Actavis is focused on developing, manufacturing and
commercializing innovative branded pharmaceuticals, high-quality generic
and over-the-counter medicines and biologic products for patients around
the world.
Actavis markets a portfolio of best-in-class products that provide
valuable treatments for the central nervous system, eye care, medical
aesthetics, gastroenterology, women’s health, urology, cardiovascular
and anti-infective therapeutic categories, and operates the world’s
third-largest global generics business, providing patients around the
globe with increased access to affordable, high-quality medicines.
Actavis is an industry leader in research and development, with one of
the broadest development pipelines in the pharmaceutical industry and a
leading position in the submission of generic product applications
globally.
With commercial operations in approximately 100 countries, Actavis is
committed to working with physicians, healthcare providers and patients
to deliver innovative and meaningful treatments that help people around
the world live longer, healthier lives.
Actavis intends to adopt a new global name – Allergan – pending
shareholder approval in 2015.
For more information, visit Actavis' website at www.actavis.com.
Contacts:
Amneal Pharmaceuticals LLC
Kevin Wiggins
+1-908-409-6819
kwiggins@amneal.com
or
Actavis
plc
Katy McMillan
02-9291-3396 or 0424-465-070
katy.mcmillan@edelman.com
Source: Amneal Pharmaceuticals Pty Ltd
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