Based in Warsaw, Biovena was established in 2000 and now has over 40 employees. Its primary focus is on the sale and marketing of generic pharmaceuticals on the Polish market.  Biovena has received marketing authorisation for eight products and await registration approval of other eight products. Biovena's portfolio is used mainly in treatment of urological, psychiatric and neurological diseases.
 
The acquisition is not expected to have any material effect on Actavis' financial results. Financial details were not disclosed.

Commenting on the acquisition, CEO Robert Wessman said: "This acquisition is in line with our strategy to extend Actavis' presence in central Europe. It provides us with a direct sales and marketing presence on the Polish market and a platform from which to register and launch Actavis products in Poland."
 

For further information, contact:

Halldor Kristmannsson
Corporate communications
(+354) 535-2300 / 840-3425, hkristmannsson@actavis.com 

 

Forward-Looking Statements
This press release contains forward-looking statements with respect to the financial condition, results of operations and businesses of Actavis. By their nature, forward-looking statements and forecasts involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things, exchange rate fluctuations, the risk that research and development will not yield new products that achieve commercial success, the impact of competition, price controls and price reductions, the risk of loss or expiration of patents or trade marks, difficulties of obtaining and maintaining governmental approvals for products, the risk of substantial product liability claims and exposure to environmental liability.