Iceland's Actavis plans to expand via acquisitions
According to reports in the German media, Iceland-based generic drugmaker Actavis (OMX: ACT) is currently planning its expansion through future acquisitions. Actavis chief executive Claudio Albrecht is reported to have said: “we [Actavis] want to grow in the coming years by an average of ten to twelve percent - faster than the current growth of the market itself.”
A Reuters report posted on Actavis’ web site, quotes the CEO’s confirmation that last year was Actavis' best ever year and talks about measures the company is taking to boost earnings. The news agency quotes him as saying that Actavis is not in an ideal position when it comes to enterprise value, but adds that after two to three years an initial public offering (IPO), a sale or a tie-up with another company could become an option.
According to Mr Albrecht, Actavis could increase its revenue more than 13% compared to 2010’s figures, while estimates show that the generics market would grow by 8% overall.
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