CRANFORD, N.J., Nov. 6 /PRNewswire-FirstCall/ -- Actavis Group (ICEX: ACT), the international generic pharmaceuticals company, today announced that Actavis U.S., its manufacturing and marketing division in the United States, has started to distribute Glipizide ER tablets across the country.
Glipizide ER tablets are used to treat type 2 diabetes in patients, particularly in people whose diabetes cannot be controlled through diet alone. Glipizide ER tablets are the authorized generic product of Pfizer's Glucotrol XL(R) tablets acquired by Actavis from Andrx Pharma as part of a Federal Trade Commission ("FTC") divestiture requirement. Actavis' product is AB rated to Glucotrol XL(R) tablets.
Glipizide ER tablets are available in 2.5mg, 5mg, and 10mg strengths. Total annual sales of Glipizide ER tablets from all suppliers in the U.S. were approximately US$195.4 million for the twelve months ending June 2006 according to IMS Health.
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 EUR2.9bn (US$3,5 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 United States, the company's single largest market. In the US alone, the company expects to launch 15 new generic products in 2006, in addition to filing 30 ANDAs. The company's US operations are located in New Jersey, Maryland and North Carolina.
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.
Actavis Group
