SINGAPORE, April 2, 2014 /PRNewswire/ -- Actavis plc (NYSE: ACT), a leading global specialty pharmaceutical company, today announced the official opening of its new regional office in Singapore that will serve as the headquarters for the Company's Asia Pacific and Africa (APACA) region.
In addition, Actavis announced that its subsidiary operating in Singapore — Drug Houses of Australia Pte Ltd (DHA) — will be transitioned to the Actavis brand. Drug Houses of Australia is Singapore's leading manufacturer of generic drugs and a key driver in the biomedical sciences sector that accounts for approximately five percent of the city-state's gross domestic product.
"The opening of our new regional headquarters in Singapore is an important step in Actavis' global expansion and further evidence of our commitment to being a leading provider of a full range of pharmaceutical products in the region," said Paul Bisaro, Chairman and CEO of Actavis. "By centralizing our regional operations in Singapore, we will be better positioned to focus on strategies that will strengthen our growth in emerging markets across Southeast Asia, enabling consumers to have increased access to affordable, high-quality medicines that help them live longer, healthier lives."
Actavis has been a long-time leader in the Singapore healthcare market through its DHA business, which offers a broad portfolio of pharmaceuticals including generics, brands and over-the-counter (OTC) products, and maintains the number one position in the country's generic market. The Company also operates a manufacturing facility in Singapore, producing a range of products in various formulations, including tablets, capsules, oral solutions, dry suspensions, ointments and liniments. In total, Actavis employs more than 130 people in Singapore.
"The opening of Actavis' regional headquarters in Singapore is an endorsement of our position as a hub for pharmaceutical companies to drive their business growth in the Asia Pacific region," said Mr. Yeoh Keat Chuan, Managing Director, Singapore Economic Development Board. "We firmly believe that Singapore's strong connectivity to the region, our status as a trusted location, availability of talent and network of professional services firms enable companies to access regional and global markets. We warmly welcome Actavis' decision to establish its regional headquarters in Singapore."
According to IMS data, the pharmaceutical market in Asia is expected to reach $350 billion in 2016, comprising approximately 30 percent of the global pharmaceutical market and driving close to 50 percent of global, incremental growth through 2016.
Regionally, Actavis has leading positions in Singapore, Indonesia, Hong Kong, Australia and New Zealand, and is quickly growing in Vietnam and Malaysia. Last year, Actavis launched more than 70 new products and filed more than 85 applications for new products within the region.
"Singapore offers the ideal strategic location for Actavis' Asia Pacific headquarters," said Hordur Thorhallsson, Actavis' Senior Vice President, APACA. "The centralized location within the region provides ready access to the Asia Pacific markets, and it offers excellent logistical and regulatory infrastructure and a government with exceptional knowledge and experience working with the global pharmaceutical industry. We look forward to further establishing and strengthening our operations in Singapore in the years to come."
Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA.
Actavis develops and manufactures generic, brand, branded generic, legacy brands and Over-the-Counter (OTC) pharmaceutical products and has commercial operations in approximately 60 countries. The Company's North American branded pharmaceuticals business is focused principally in the Women's Health, Urology, Gastroenterology and Dermatology therapeutic categories with a strong pipeline of products in various stages of development. Actavis also has a portfolio of five biosimilar products in development in Women's Health and Oncology. Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, and includes Anda, Inc., a U.S. pharmaceutical product distributor.
Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Actavis' current perspective of existing trends and information as of the date of this release. For instance, any statements in this press release concerning prospects related to Actavis' strategic initiatives are forward-looking statements. Except as expressly required by law, Actavis disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Actavis' current expectations depending upon a number of factors affecting Actavis' business. These factors include, among others, the anticipated size of the markets and anticipated demand for Actavis' products; the impact of competitive products and pricing; the inherent uncertainty associated with financial projections; periodic dependence on a small number of products for a significant source of net revenue or income; variability of trade-buying patterns; changes in generally accepted accounting principles; the risks and uncertainties normally incident to the pharmaceutical industry; risks that the carrying values of assets may be negatively impacted by future events and circumstances; the timing and success of product launches; the difficulty of predicting the timing or outcome of product development efforts and regulatory agency approvals or actions, if any; market acceptance of and continued demand for Actavis' products; costs and efforts to defend or enforce intellectual property rights; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with governmental regulations applicable to Actavis' facilities, products and/or businesses; changes in the laws and regulations affecting, among other things, pricing and reimbursement of pharmaceutical products; and other risks and uncertainties detailed in Actavis' periodic public filings with the Securities and Exchange Commission, including but not limited to Actavis plc's Annual Report on Form 10-K for the year ended December 31, 2013. Except as expressly required by law, Actavis disclaims any intent or obligation to update these forward-looking statements.
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