Actavis Group, the international generic pharmaceuticals company, announced today that it has acquired a 51% controlling interest in ZiO Zdorovje, a leading 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 world class 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 will retain in the business going forward, underlines how committed both parties are to working closely together going forward.

Russia is one of the fastest growing markets in the generic industry with growth forecast at an annual rate of 15-17% during next 5 years. Russia is already Actavis’ seventh largest market, accounting for approximately 4% of the Groups annual sales.

Actavis is confident that this transaction will significantly enhance its prospects in the Russian market and establish a platform for sustainable growth going forward.

The transaction will 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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