This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Actavis Acquires Silom Medical Company

DUBLIN, April 1, 2014 /PRNewswire/ -- Actavis plc (NYSE: ACT), a leading global specialty pharmaceutical company today announced that it has acquired Silom Medical Company, a privately held generic pharmaceutical company focused on developing and marketing therapies in Thailand, for approximately $100 million in cash.  The acquisition of Silom Medical immediately elevates Actavis into a top-five position in the Thai generic pharmaceutical market, with leading positions in the ophthalmic and respiratory therapeutic categories and a strong cardiovascular franchise.  The transaction is expected to be immediately accretive to non-GAAP earnings in 2014. 

"The acquisition of Silom Medical demonstrates our commitment to be a leading specialty pharmaceutical company in Southeast Asia, and will provide the combined business with an even more significant and united presence in the fast-growing Thai pharmaceutical market," said Paul Bisaro, Chairman and CEO of Actavis.  "Silom Medical's diverse product portfolio and fully integrated platform, when combined with Actavis' current local commercial activities and world-class global generics infrastructure, will provide consumers in Thailand with expanded access to a combined, larger portfolio of affordable medicines and the increased opportunity to benefit from products in development for the market.  The larger presence in Thailand will also create a foundation for Actavis' continued expansion across the Southeast Asian region."

Actavis currently markets approximately a dozen products through local distributors in Thailand, and has approximately nine additional products under registration.  The combination is anticipated to result in opportunities to expand the core therapeutic areas of cardiovascular, ophthalmology and respiratory with complementary and novel products, as well as the potential to use Silom Medical's sales channels to create opportunities in new therapeutic categories including Oncology, Women's Health, CNS and others.

Silom Medical is one of Thailand's leading generic pharmaceutical companies, offering more than 25 products in various dosage forms to more than 4,400 hospitals, clinics and drugstores throughout the country.  The Company has an experienced, in-house sales force and operates a 32,000 sq. meter manufacturing facility in Ayutthaya with a production capacity of 660 million tablets/capsules and 47 million sterile units per year.  Silom Medical has delivered consistent, year-on-year growth in revenue and profit over the past 15 years, most recently exceeding double-digit growth.

According to Business Monitor International, Thailand's pharmaceutical market is valued at approximately $4.3 Billion and is poised for continued growth.  Pharmaceutical sales in the country are expected to grow at a compound annual rate of approximately 8 percent, reaching approximately $9 Billion by 2022.



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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 18,178.46 -110.17 -0.60%
S&P 500 2,105.33 -12.06 -0.57%
NASDAQ 4,970.12 -37.9760 -0.76%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs