MELBOURNE and SYDNEY, Australia, March 31, 2015 – 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.
Actavis, 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