Actavis agrees refinancing deal with backers

Published: 22-Jul-2010
Finance Pharmaceutical

Will enter the biosimilars market


Icelandic generic drugmaker Actavis Group is poised to enter the biosimilars sector following a debt refinancing deal with its lenders.

The company did not give details but said the refinancing also provides it with the flexibility to grow, especially in southern Europe, Japan, the Middle East and Northern Africa, and increase market share in current markets.

‘With the refinancing successfully agreed on, the Group is now well placed for the future and can continue to execute its growth strategy on a robust platform, providing additional stability and opportunity for Actavis' employees both in Iceland and around the world,’ said Actavis chief executive Dr Claudio Albrecht, who will also become chairman of the Board.

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