REYKJAVIK, Iceland, Nov. 14, 2005 (PRIMEZONE) -- Actavis Group (ICEX:ACT), the international generic pharmaceuticals company, today announces its results for the third quarter ended 30 September 2005.
Q3 Highlights
-- Total reported revenue up 53.4% to EUR160.9m (Q3 2004:EUR104.9m)
underlying total revenues up 24.3%
-- Net profit up 63.1% to EUR23.2m (Q3 2004: EUR14.2m)
reflecting a strong performance from the North American Division
following the integration of Amide and strong performance in sales
of Own-label products and sales to third parties.
-- Record EBITDA margin of 30.0% (Q3 2004: 25.7%).
-- Own-label sales up 23.4% to EUR72.5m in Q3 (Q3 2004:EUR58.8m) as a
result of new product and market launches during the year.
-- Third-party sales up 29.3% to EUR43.6m (Q3 2004: EUR33.8m), supported
by two new product launches.
-- Recent acquisitions of Keri Pharma (Hungary), Higia (Bulgaria),
the human generics business of Alpharma and Ophtha (Denmark).
-- Group refinancing secured through US$1.27 billion senior debt
facility and issue of preference shares totalling US$425 million.
-- Acquisition of Alpharma's human generic business in October makes
Actavis the fourth largest generic pharmaceuticals company globally;
20.6% of sales now generated in the US.
Actavis President & CEO, Robert Wessman, commented: "The substantial improvement in Actavis' financial and operational performance during the third quarter demonstrates the success of our strategy and the efficiency of our infrastructure. Amide, the U.S. generics business that we acquired in May, is now integrated into our business and its contribution is reflected in these excellent results. Following the acquisition of Alpharma's human generics division last month, we now have an even stronger platform for growth in the key U.S. market.
"Third-party sales improved in line with expectations during the third quarter and we have continued to see a good performance in most of our key Own-label markets as the flow of new products continued. We also anticipate a strong fourth quarter and the Group remains on target to achieve its full year guidance of 26% EBITDA margins and single-digit underlying growth."