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news.Amneal Pharmaceuticals has signed a binding letter of intent to acquire Irish pharmaceutical firm Actavis' generic drug business in Australia for an undisclosed amount.
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Both Actavis Australia and Amneal have agreed to work expeditiously to complete the transaction and aim to prevent disruption of supply to existing purchasers of Actavis’ products.
Until the deal is completed, Actavis will continue to supply generic medicines on the PBS to the Australian market as well as fulfill supply commitments for all hospital tenders.
According to Actavis, for the non-generic business, the company will continue to promote and distribute branded medicines in the portfolio including but not limited to products such as Actonel and Oxytrol.
A dedicated GP sales team will be maintained to support GPs and specialists who prescribe primary care products, including Actonel.
The Irish company will also continue to supply Botox, eye-care products and all other heritage Allergan products.
Amneal supplies generic pharmaceuticals, vertically-integrated across the entire supply chain from R&D to finished goods.
The Irish firm is focused on developing, manufacturing and commercializing generic, brand, branded generic, legacy brands and over-the-counter (OTC) pharmaceutical products for patients through its more than 30 manufacturing and distribution facilities located worldwide.