Actavis appoints new ceo

Dr Claudio Albrecht takes over as Sigurdur Oli Olafsson steps down

Actavis Group, the international generic pharmaceuticals company, has appointed former Ratiopharm leader Dr Claudio Albrecht as its new chief executive.

Albrecht has more than 20 years of experience in the generics industry, having started his career with Sandoz in 1987 where he went on to serve as a managing director in the Netherlands, Germany and the US. In 2000 he joined Ratiopharm as global ceo, during which time the company doubled sales and became the world's third largest generic company by revenues. In 2008 Albrecht established Cometh, a consultancy that has advised pharmaceutical companies on their growth strategies, including Actavis.

Dr Claudio Albrecht is the new ceo of Actavis

Albrecht is 51 years old, an Austrian citizen and holds a PhD in law.

Having led the restoration of Actavis' US business and a turnaround in critical markets, Sigurdur Oli Olafsson is standing down as ceo. His departure follows seven years in senior management roles during which time Actavis has grown into one of the world's leading generics companies.

Following a number of acquisitions over the last decade, Actavis' senior management is currently spread across five countries. A search is underway to find a central location where the senior team can be based in one place. Iceland will remain a key site for manufacturing, research and development and Medis, the third-party sales division.

Thor Bjorgolfsson, founder and chairman Actavis Group, said: ‘I am delighted that we have attracted someone of Dr Claudio Albrecht's calibre to Actavis. I am certain that the Group will benefit considerably from his extensive leadership qualities. His experience and determination will help drive future growth in our great company. I would like to thank Sigurdur Oli Olafsson for his pivotal role in keeping Actavis a strong and robust company through difficult years.’