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Actavis Group acquires US pharmaceuticals company Amide Pharmaceutical Inc.

NORDIC BUSINESS REPORT-20 May 2005-Actavis Group acquires US pharmaceuticals company Amide Pharmaceutical Inc(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

Icelandic pharmaceuticals company Actavis Group said on Friday (20 May) that it had agreed to acquire the US company Amide Pharmaceutical Inc.

The consideration comprises a fixed cash payment of USD500m and additional payments of up to USD100m depending on future performance.

"The deal brings together two premier generics companies with complementary strengths in Europe and the US and represents a significant milestone in Actavis' plans to become one of the leading global companies within the sector," Actavis said.

Amide Pharmaceutical reported revenues of USD106.7m in 2004.

One US dollar (USD) is worth approximately 0.54 British pounds (GBP).

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Publication:Nordic Business Report
Article Type:Brief Article
Geographic Code:1USA
Date:May 20, 2005
Words:134
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