Actavis acquires PharmaPack International
Actavis Group has acquired 100% of the shares in PharmaPack International B.V. for an undisclosed amount. PharmaPack is based in Zoetermeer, the Netherlands, and is a specialist in packaging pharmaceutical as well as biotechnological products. The company has extensive experience with product, organisational and country-specific packaging requirements and has been involved in the pharmaceutical service industry for almost 30 years.
Actavis buys a considerable amount of tablets from third-party manufacturers. "The lead times are sometimes between six and nine months and therefore much too long. With the acquisition of PharmaPack International we are able to reduce these lead times by more than 50 per cent," added Albrecht. One of the Dutch company's future roles will be the bulk packaging of pharmaceuticals produced in the Actavis facility in Alathur (India). Another advantage of this packaging centre will be a significant reduction in freight costs. In summary, PharmaPack International will increase the Group's cost competitiveness and have a very positive impact on Actavis' working capital.
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