Intas Pharmaceuticals (Intas) has completed a deal to acquire Actavis UK and Actavis Ireland (Actavis UK and Ireland) from Teva Pharmaceutical (Teva) for over GBP 600 million.
Intas, through its subsidiary Accord Healthcare (Accord), completed the acquisition of Actavis UK and Actavis Ireland from Israeli generics giant Teva on 9 January 2016 for GBP 603 million (approximately US$750 million). The deal was originally announced in October 2016 [1].
Intas is one of India’s top 10 pharmaceutical companies. The privately held company has the capability to produce a wide range of dosage forms including tablets, liquids, creams, drops and injectables. As well as generics, Intas has the largest commercial ‘similar biologics’ portfolio in India and was the first pharmaceutical company in the country to launch a biosimilar in the EU, Accofil (a biosimilar of filgrastim). Accofil is used to treat abnormally low white blood cells, as occurs during chemotherapy or HIV infection for example, and was launched in January 2015 [2].
Its subsidiary Accord manages the company’s activities in Europe, where it is currently active in over 30 markets offering a range of over 6,000 products. The company supplies all major UK wholesalers and National Health Service hospitals.
Actavis UK and Ireland, the company bought by Accord, is a leading generics supplier in the UK. It produces over 10% of all UK generic medicines at its GMP manufacturing facility in Barnstaple, southwest England. Although Actavis only more recently entered the Irish market, it now supplies over 100 different products to the country.
The deal is part of the European Commission’s antitrust divestiture obligations, which required Teva to sell off certain subsidiary businesses after its acquisition of Allergan’s generics business in August 2016. It puts Intas in the top 20 generics companies in the world and will strengthen Accord’s role in the UK retail market.
Accord says the acquisition of Actavis UK and Ireland will strengthen their position in the UK market, providing access to new retail and hospital markets. In addition, they will gain access to Actavis’ Barnstaple site, which will massively increase revenue and provide over 1,000 new employees.
Following recent investments in a manufacturing facility in the northeast of England, the purchase emphasises Accord’s dedication to UK manufacturing. The plant in Barnstaple will be of four UK sites owned by Accord, which will enable them to provide for pharmacies, clinics, hospitals and wholesalers across the country.
Intas’ Vice Chairman and Managing Director, Binish Chudgar, commented that the acquisition represents a ‘great opportunity for growth’ and ‘demonstrates Intas’ commitment to greater European expansion’, while Actavis said they hope to build on the strengths of Intas and Accord to achieve growth.
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Reference
1. GaBI Online - Generics and Biosimilars Initiative. Teva sells Actavis’ UK and Ireland generics business to Intas [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2017 Feb 17]. Available from: www.gabionline.net/Generics/News/Teva-sells-Actavis-UK-and-Ireland-generics-business-to-Intas
2. GaBI Online - Generics and Biosimilars Initiative. Accord launches biosimilar filgrastim in Europe [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2017 Feb 17]. Available from: www.gabionline.net/Biosimilars/News/Accord-launches-biosimilar-filgrastim-in-Europe
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