Takes Actavis into top five position in genercis market in the country
Actavis, a global speciality pharmaceutical company, has bought privately owned Silom Medical, a generic pharmaceutical company based in Thailand, for US$100m in cash.
The transaction adds to a string of recent acquisitions for the Dublin, Ireland-based Actavis. In February, it agreed to buy Forest Laboratories for $25bn and in January bought Aptalis, a specialist in treatments for cystic fibrosis and gastrointestinal disorders for $2.9bn from private equity group TPG, while in May 2013, the company bought Dublin-based Warner Chilcott for $8.5bn.
This latest deal will take Actavis into a top-five position in the Thai generic pharmaceutical market, with leading positions in ophthalmic and respiratory treatments and a strong cardiovascular franchise.
'The acquisition of Silom Medical demonstrates our commitment to be a leading speciality pharmaceutical company in Southeast Asia, and will provide the combined business with an even more significant and united presence in the fast-growing Thai pharmaceutical market,' said Paul Bisaro, Chairman and CEO of Actavis.
Actavis currently markets around 12 products through local distributors in Thailand, and has approximately nine additional products under registration.
Silom Medical offers in excess of 25 products to more than 4,400 hospitals, clinics and drugstores throughout Thailand. It has a 32,000m2 manufacturing facility in Ayutthaya with a production capacity of 660 million tablets/capsules and 47 million sterile units a year.
According to Business Monitor International, Thailand's pharmaceutical market is valued at approximately $4.3bn and is poised for continued growth. Pharmaceutical sales in the country are expected to grow at a compound annual rate (CAGR) of approximately 8%, reaching approximately $9bn by 2022.