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
TheStreet Open House

Actavis Launches Asia Pacific Regional Headquarters In Singapore

SINGAPORE, April 2, 2014 /PRNewswire/ -- Actavis plc (NYSE: ACT), a leading global specialty pharmaceutical company, today announced the official opening of its new regional office in Singapore that will serve as the headquarters for the Company's Asia Pacific and Africa (APACA) region.

In addition, Actavis announced that its subsidiary operating in Singapore — Drug Houses of Australia Pte Ltd (DHA) — will be transitioned to the Actavis brand.  Drug Houses of Australia is Singapore's leading manufacturer of generic drugs and a key driver in the biomedical sciences sector that accounts for approximately five percent of the city-state's gross domestic product.

"The opening of our new regional headquarters in Singapore is an important step in Actavis' global expansion and further evidence of our commitment to being a leading provider of a full range of pharmaceutical products in the region," said Paul Bisaro, Chairman and CEO of Actavis.  "By centralizing our regional operations in Singapore, we will be better positioned to focus on strategies that will strengthen our growth in emerging markets across Southeast Asia, enabling consumers to have increased access to affordable, high-quality medicines that help them live longer, healthier lives."

Actavis has been a long-time leader in the Singapore healthcare market through its DHA business, which offers a broad portfolio of pharmaceuticals including generics, brands and over-the-counter (OTC) products, and maintains the number one position in the country's generic market.  The Company also operates a manufacturing facility in Singapore, producing a range of products in various formulations, including tablets, capsules, oral solutions, dry suspensions, ointments and liniments.  In total, Actavis employs more than 130 people in Singapore.

"The opening of Actavis' regional headquarters in Singapore is an endorsement of our position as a hub for pharmaceutical companies to drive their business growth in the Asia Pacific region," said Mr. Yeoh Keat Chuan, Managing Director, Singapore Economic Development Board.  "We firmly believe that Singapore's strong connectivity to the region, our status as a trusted location, availability of talent and network of professional services firms enable companies to access regional and global markets.  We warmly welcome Actavis' decision to establish its regional headquarters in Singapore."

According to IMS data, the pharmaceutical market in Asia is expected to reach $350 billion in 2016, comprising approximately 30 percent of the global pharmaceutical market and driving close to 50 percent of global, incremental growth through 2016.

Regionally, Actavis has leading positions in Singapore, Indonesia, Hong Kong, Australia and New Zealand, and is quickly growing in Vietnam and Malaysia.  Last year, Actavis launched more than 70 new products and filed more than 85 applications for new products within the region.

" Singapore offers the ideal strategic location for Actavis' Asia Pacific headquarters," said Hordur Thorhallsson, Actavis' Senior Vice President, APACA.  "The centralized location within the region provides ready access to the Asia Pacific markets, and it offers excellent logistical and regulatory infrastructure and a government with exceptional knowledge and experience working with the global pharmaceutical industry.  We look forward to further establishing and strengthening our operations in Singapore in the years to come."  



1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,097.74 -74.94 -0.44%
S&P 500 1,990.26 -4.03 -0.20%
NASDAQ 4,529.5060 +1.8170 0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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