This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Actavis Announces Refocused Global Business Structure To Maximize Evolution Into Global Specialty Pharmaceuticals Leadership

DUBLIN, Jan. 31, 2014 /PRNewswire/ -- Actavis plc (NYSE: ACT) today announced a realignment of its global strategic business structure to maximize the Company's newly strengthened position as a leading specialty pharmaceutical developer, manufacturer and marketer, and to enhance Actavis' position for continued long-term growth. 

Under the new organizational structure, announced at Actavis' 2014 Investor Meeting in New York, Actavis' global generics, specialty brands, branded generics, legacy brands, over-the-counter (OTC) and third-party commercial operations and business development have been consolidated into a single new division, under the leadership of Siggi Olafsson, President, Actavis Pharma. 

Actavis' generic, brand, inhalation and biosimilars research and development (R&D) organizations have been consolidated under the leadership of Fred Wilkinson, in the newly created position of President, Actavis Global Research and Development. 

Mr. Olafsson and Mr. Wilkinson will continue to report directly to Paul Bisaro, Chairman and Chief Executive Officer of Actavis.

"Over the past several years, Actavis has evolved into a leading specialty pharmaceutical company with a solid global commercial footprint and a research and development capability unmatched within the industry," said Mr. Bisaro. "This organization will provide unprecedented management focus on driving our Company to the next stage in our evolution and ensure our successful evolution into the world's premier, global specialty pharmaceutical leader.  In concert with this realignment, I have established four clear strategic pillars of growth for the continued expansion of Actavis: 

  • Maximize our commercial structure to capitalize on the value of the pharmaceutical products we are delivering to our customers, regardless of whether they are generic, brand, branded generic, OTC and ultimately biosimilars;
  • Ensure continued focus on organic growth through maximization of our research and development expertise;
  • Emphasize operational excellence and cost control across our global manufacturing and distribution network; and,
  • Deploy capital to drive the continued expansion of our commercial, portfolio and technology capabilities through strategic mergers, acquisitions and business development initiatives that deliver growth multiples that complement our investment in sustainable organic growth.

"By placing all commercial pharmaceutical sales and marketing functions under Siggi, our new commercial structure will better position us to respond to market needs and compete more effectively on the global specialty pharmaceutical stage.  Actavis currently participates in more than 60 markets, and we are focused on expanding our commercial footprint.  Siggi's knowledge of global markets and understanding of the intricacies of delivering pharmaceuticals that meet the needs of specific market dynamics – brand, generic, branded generic and OTC products – ensures we are capitalizing on opportunities to drive revenues and earnings growth.  Combining our commercial operations will dramatically strengthen Actavis' position as a global provider of pharmaceutical products to our patients in our diverse customer base," said Mr. Bisaro. 

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs