Actavis acquires Dutch company PharmaPack

Iceland-headquartered generic drugmaker Actavis says it has acquired 100% of the shares in PharmaPack International BV for an undisclosed amount. PharmaPack is based in Zoetermeer, the Netherlands, and is a specialist in packaging pharmaceutical as well as biotechnological products.

The company has extensive experience with product, organisational and country-specific packaging requirements and has been involved in the pharmaceutical service industry for almost 30 years. Actavis chief executive and chairman Claudio Albrecht said: "This acquisition gives Actavis much greater flexibility in tender markets and allows for minimum order quantities for smaller markets."

Actavis buys a considerable amount of tablets from third-party manufacturers. "The lead times are sometimes between six and nine months and therefore much too long. With the acquisition of PharmaPack International we are able to reduce these lead times by more than 50%," added Mr Albrecht.