Actiavis bids for Romanian Antibiotice

Actavis, a drug maker,was among 22 potential bidders to submit a letter of interest in the Romanian government’s 53% stake in Antibiotice Iasi, Robert Wessman, chief executive officer of the Icelander Group, has announced. ActavisGroup is seeking new targets after Barr Pharmaceuticalstrumped it for Pliva in September 2006 to become the world’s third-largest generics maker, behind Israel’s Teva and the Swiss Novartis.

According to Nomura Code, Antibiotice controls about 9% of the market. Actavis already has a share of 8% in Romania’s generic medicine market. With Antibiotice, Actavis could raise its market share to about 17%, challenging Czech drug maker Zentiva. Antiobiotice’s market value is some $300m. Actavis would like to use its production facilities.

Source: PMR. For more info Pharmapoland.com