Actavis and ASKA to create new generic pharmaceutical firm in Japan

Actavis Group and Japan’s ASKA Pharmaceutical formally signed contracts recently establishing a new joint company called Actavis ASKA K.K. The new business will be headquartered in Tokyo.

The joint company intends to enter the Japanese generic pharmaceutical market right away in April 2009. ASKA will hold a 55 percent stake in the venture and Actavis will hold 45 percent.

“We are convinced this is the best way to enter the Japanese market,” says Actavis CEO Sigurdur Oli Olafsson. “We bring the power of a global generic pharmaceutical company to the table, while ASKA is an experienced local partner. We are very much looking forward to a long and successful partnership. The government’s policy to increase the share of generics during the next few years is key to our decision to enter at this time.”

Contributing to society by developing and providing innovative pharmaceutical products, ASKA Pharmaceutical is a research and development (R&D) orientated company located in Tokyo. ASKA concentrates its management resources on specific therapeutic areas.

Actavis is one of the world’s biggest generic pharmaceutical companies. Established in 1956, the group has more than 10,000 employees operating in over 40 countries around the globe. Actavis’ headquarters are in Iceland.

Actavis Group and ASKA Pharmaceutical formally signed the agreement establishing the new joint company: Actavis ASKA K.K following the signature of a preliminary agreement last November.

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