Actavis buys Thai generics company

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Actavis buys Thai generics company

Home/Pharma News | Posted 11/04/2014 0 Post your comment

US generics major Actavis has acquired Silom Medical Company, a privately held generics firm focused on developing and marketing therapies in Thailand, for around US$100 million in cash.

Silom Medical is one of Thailand’s leading generics companies, offering more than 25 products in various dosage forms to more than 4,400 hospitals, clinics and drugstores throughout the country. The deal will propel Actavis into the top five generics makers in the country, with leading positions in the ophthalmic and respiratory therapeutic categories and a strong cardiovascular franchise.

The move comes as part of the company’s strategy of expansion into emerging markets and in particular the fast-growing Thai market. Actavis already markets around 12 products in Thailand and has approximately nine additional products under registration. According to Business Monitor International, Thailand’s pharmaceutical market is valued at approximately US$4.3 billion and sales in the country are expected to grow at a compound annual rate of approximately 8%, reaching approximately US$9 billion by 2022. Chairman and CEO of Actavis, Mr Paul Bisaro expects ‘the larger presence in Thailand will also create a foundation for Actavis’ continued expansion across the Southeast Asian region’.

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Source: Actavis