REYKJAVIK, Iceland, Aug. 10, 2006 (PRIMEZONE) -- Actavis Group hf. (ICEX:ACT), the international generic pharmaceuticals company, announces that it has submitted, on 9 August 2006, a request for the approval to publish a takeover bid for the acquisition of the Croatian pharmaceuticals company PLIVA d.d. Zagreb.
Publishing the takeover bid is subject to approval of the Croatian Financial Services Supervisory Agency.
About Actavis
Celebrating its 50th anniversary this year, Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. Based in Iceland, the company has operations in over 30 countries, with over 10,000 employees. The company's market cap is approximately EUR2.3bn (US$3 billion) and it's listed in the Iceland Stock Exchange. Actavis expects 2006 sales to total EUR1.4bn, with approximately one-third of these sales coming from the United States, the company's single largest market.
More information about Actavis can be found at www.actavis.com.
Information in this press release may contain forward-looking statements with respect to the financial condition, results of operations and businesses of Actavis. By their nature, forward-looking statements and forecasts involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from that expressed or implied by these forward-looking statements. These factors include, among other things, exchange rate fluctuations, the risk that research and development will not yield new products that achieve commercial success, the impact of competition, price controls and price reductions, the risk of loss or expiration of patents or trade marks, difficulties of obtaining and maintaining governmental approvals for products, the risk of substantial product liability claims, exposure to environmental liability.