Actavis expands presence in Russia
Purchase of majority stake in Russian manufacturing facility to strengthen position in fast growing market
Actavis Group announced that it has acquired a 51% controlling interest in ZiO Zdorovje, a Russian pharmaceutical manufacturer. The total commitment by Actavis is EUR47 million (US$60 million), of which EUR23 million (US$30 million) will be made available for investment for ZiO Zdorovje's manufacturing site to introduce new products and create a platform for increased production and capacity. This investment combined with the 49% stake that the current owners of ZiO Zdorovje shall retain in the business going forward, underlines how committed both parties are to working closely together going forward.
The transaction shall enable Actavis to transfer production of certain products to Russia and provide the Group with a local manufacturing presence that will help to facilitate participation in state hospital tenders.
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