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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.