Actavis acquires Kéri Pharma Generics

05-Oct-2005

Actavis Group announced that it has acquired the generic business of the Hungarian pharmaceutical company, Kéri Pharma. Financial details were not disclosed.

Kéri Pharma was founded in 1991 and specialises in the development, sales and marketing of generic pharmaceuticals in the central eastern European region. The majority of the Company's sales are in Hungary, but it also exports to Poland, Slovenia, Slovak Republic, Czech Republic and the Baltic states. The company employs around 80 people and has over 20 products on the market, with a further 23 in the pipeline. The portfolio consists mainly of Central nervous system (CNS), Cardiovascular and Rheumatology products. Kéri has a strong business development unit while production is outsourced to third parties. Kéri will launch the first two Actavis products this year, as a customer of Medis, Actavis' Third-party sales division. The Company's products are fully compliant with EU requirements, and now there is a possibility to launch some of these products into other Actavis markets.

The acquisition is not expected to have any material effect on Actavis' financial results in 2005.

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