Actavis

Actavis is an international generic pharmaceutical company founded in 1956 as Pharmaco. It is headquartered in Iceland and listed on the Icelandic Stock Exchange.

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In the late 1990s, Actavis employed fewer than one hundred people and operated solely in the Icelandic market. In 1999, Actavis acquired Bulgarian rival Balkanpharma, beginning a period of substantial growth.

Since then, Actavis has made 25 acquisitions and now operates in 32 countries and employees over 10,000 people. The Group has one of the broadest portfolios in the generics sector with over 600 products on the market, in addition to over 200 products in the development pipeline and in registration.

Actavis is currently among the five largest generic pharmaceutical companies in the world. Its turnover for 2006 is predicted to be 1,390 million euros, compared to 56 million euros in 1999.

The chairman of the company is Icelandic businessman Björgólfur Thor Björgólfsson. Robert Wessman became President and CEO of Actavis following the company’s merger with Delta in 2002, where he had served as CEO since 1999. A business graduate and lecturer at the University of Iceland, Wessman worked previously at Icelandic transportation company Samskip, advancing to the post of CEO in Germany. Robert is also a Board Member of the Icelandic Chamber of Commerce.

On the 24th of November 2006, Actavis announced the departure of Svafa Gronfeldt, Deputy to the CEO. She leaves Actavis to pursue a new position as Dean of Reykjavik University. Sigurður Óli Ólafson takes her place as Deputy to the CEO.