REYKJAVIK, Iceland, Aug. 11, 2006 (PRIMEZONE) -- Actavis Group hf. (ICEX:ACT), the international generic pharmaceuticals company, announces following its earnings release this morning, that the Company has decided to update its financial guidance for the full year 2007.
Management expects revenue to total EUR1.600 million in the year 2007, representing a double digit underlying growth over 2006, with an EBITDA margin of 21-22%.
As previously communicated, management expects continued strong performance in the year 2006, with strong growth from North America and Central and Eastern Europe, with revenues for the full year to reach EUR1.390 million, with EBITDA margin of 20.5%. Overall, Actavis' projection for 2006 represents an underlying growth rate of approximately 10% over 2005 on a pro forma basis at constant exchange rates. In the third quarter, the results will be subject to seasonal variations of +/- 5% around this trend line.
Enquiries Halldor Kristmannsson, VP of Corporate Communications +354 535 2325/ +354 840 3425 hkristmannsson@actavis.com
About Actavis Celebrating its 50th anniversary this year, Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. Based in Iceland, the company has operations in over 30 countries, with over 10,000 employees. The company's market cap is approximately EUR2.3bn (US$3 billion) and it's listed in the Iceland Stock Exchange. Actavis expects 2006 sales to total EUR1.4bn, with approximately one-third of these sales coming from the
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.