REYKJAVIK, Iceland, June 26, 2007 (PRIME NEWSWIRE) -- Actavis Group, the international generic pharmaceuticals company (OMX:ACT), today announced that it has launched NIFEdipine extended-release tablets. Distribution of the product will commence immediately.
Actavis' NIFEdepine extended-release (XR) tablets are the generic equivalent of Bayer's Adalat(r) CC tablets and available in 30mg and 60mg strengths. NIFEdepine XR tablets are indicated for the treatment of hypertension. It may be used alone or in combination with other anti-hypertensive agents.
Doug Boothe, Executive VP of U.S. Commercial & Administration said: "NIFEdipine XR is the first product launch from Actavis South Atlantic LLC (formerly Abrika Pharmaceuticals) since the acquisition of Abrika in April 2007. It is going to be a valuable addition to our rapidly expanding product portfolio and solidifies our strategy to further grow our business in the controlled release segment along with other technically difficult markets."
Annual sales of Nifedipine XR tablets (Adalat(r)CC and its generic equivalent) in the U.S. were approximately US$143 million for the twelve months ending March 2007 according to IMS health data.
About Actavis
Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. With headquarters in Iceland, Actavis has operations in 39 countries, with 11,000 employees. The company's market capitalization is approximately EUR3.3bn and is listed in the OMX stock exchange in Iceland. Actavis expects 2007 sales to total EUR1.6bn, with approximately one-third of these sales coming from the United States, the company's single largest market. In the U.S. alone, the company made 38 ANDA filings in 2006 and expects to file 40-45 in the year 2007 along with 18-20 new product launches. The company's U.S. operations are located in New Jersey, Maryland, North Carolina and Florida.
More information about Actavis can be found at www.actavis.com.
Information in this press release may contain 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 that 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, exposure to environmental liability.