Actavis Opens Research and Development Labs in Florida.Global generic pharmaceutical leader to expand R&D for controlled release products REYKJAVIK, Iceland & MORRISTOWN, N.J. -- Actavis South Atlantic (ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and ), a United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. division of the international generic pharmaceutical company Actavis, has opened new analytical and R&D laboratories to expand the Company's research and development efforts for controlled release (CR) and other technically difficult generic pharmaceutical products. The new analytical labs have been expanded by 3,000 sq ft and the new R&D labs have been expanded by 1,500 sq ft. As part of the Sunrise, FL expansion, appropriate office space was also added to support both of the lab expansions. The CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Actavis Group, Sigurdur Oli Olafsson, participated in the celebration and ribbon cutting ceremony A ribbon cutting ceremony is a public ceremony conducted to inaugurate the opening to the general public of a new building or business. Often, it is conducted in just the manner the name suggests: by tying a ceremonial ribbon across the main entrance of the building, which . Recently launched Actavis South Atlantic products in the United States include Bupropion bupropion /bu·pro·pi·on/ (bu-pro´pe-on) a monocyclic compound structurally similar to amphetamine, used as the hydrochloride salt as an antidepressant and as an aid in smoking cessation. XL and SR, the generic equivalents of GSK's Wellbutrin XL[R]* and SR[R]* as well as Nifedipine nifedipine /ni·fed·i·pine/ (ni-fed´i-pen) a calcium channel blocking agent used as a coronary vasodilator in the treatment of coronary insufficiency and angina pectoris; also used in the treatment of hypertension. ER, the generic equivalent of Bayer's Adalat[R]** CC. Actavis U.S. CEO Doug Boothe said, "Actavis in the United States is focused on our vision and commitment to be on the cutting edge of new technology. The expansion of our South Atlantic R&D facility ensures that we remain well-positioned to develop and manufacture XL (extended release) and CR (continuous release) drugs." Actavis is one of the leading companies in the U.S. market in the development of CR products, with more than EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 50 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 74 million) expected to be invested in CR development in 2008 and 200 employees dedicated in the development of CR products. Actavis has 13 pending ANDAs for CR products with the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. . * Wellbutrin XL and SR are registered trademarks of GlaxoSmithKline ** Adalat CC is a registered trademark of Bayer About Actavis Group 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 40 countries, with 11,000 employees. CR versions of drugs expand the therapeutic application of products and are highly sought after by branded pharmaceutical companies because of their ability to extend product life cycles. Actavis South Atlantic applies its proprietary technologies to selected high value branded pharmaceuticals and duplicates the release characteristics of the originator drugs in order to bring to market generic versions that can be substituted for these branded products. Any statements contained in this press release that refer to Actavis' estimated or anticipated future results or future activities are forward-looking statements which reflect the Company's current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions, the success of new products, the strength of competition, the success of research and development issues, unexpected contract breaches or terminations, exposure to product liability and other lawsuits, the effect of currency fluctuations and other factors. |
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