Sat. Feb 4th, 2023

Actavis seeks to acquire drug company

HCM CITY (VNS)— NYSE-listed drug company Actavis will look for opportunities to acquire a local pharmaceutical firm for further development in Viet Nam, said the company vice-president for North Asia and Indonesia, Thomas Runkel, on Monday.

He considered Viet Nam a potential market, with his company enjoying more than 100 per cent growth last year, and said Actavis was seeking a suitable partner for an acquisition deal or for setting up a joint venture.

Late last year, Watson Pharmaceuticals bought Actavis for US$6 billlion and took its name. In January, the company acquired a Belgian firm, Uteron, for $305 million.

The company is now the third-biggest drug firm globally, focusing on developing, manufacturing and distributing generic, brand and biosimilar products. It has had an office in Viet Nam since 2007.-VNS

By vivian