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BY OUR PHARMA CORRESPONDENT
July 30, 2005: The Iceland based Actavis has launched its fosinopril tablets, in two strengths, in the markets of Netherlands, Sweden and the United Kingdom. Fosinopril is used in the treatment of hypertension and congestive heart failure, and first went on the market in Europe in 1990.
Bristol-Myers Squibb markets the product as Monopril. Actavis has also announced that its subsidiary Medis launched Benazepril hydrochlorothiazide in Germany. The product is a generic version of Novartis’s anti-hypertension drug Lotensin. Lotensin first went on sale in Europe in 1992, and its patent in Germany expired on 29th June 2005, Actavis announced in an official release.
Actavis will be launching of around 10 million tablets, at the beginning. The product is expected to be a good contributor to Actavis' portfolio, though will not figure on the company's top ten list.
Both the drugs benazepril and fosinopril were developed in Iceland five years ago. For benazepril hydrochlorothiazide bioequivalence studies were carried out in Canada. Both drugs will be manufactured in Iceland, and sold by Medis to third-party customers, which will market the drugs under their own labels, the release noted.
Additionally, Actavis Nordic Own-Label will sell fosinopril in Sweden and in selected Eastern European markets later this year. Actavis, originally named Pharmaco, was created in 1956; in May 2004 it changed its name to Actavis. The company has operations in over 25 countries. It has manufacturing and development facilities in Bulgaria, Turkey, Malta, Iceland and Serbia, and employs over 7,000 members of staff.
The company is particularly active in the non-EU parts of Europe, such As Bulgaria, Russia, and Serbia, but in recent years has been pushing for a stronger presence in the EU, and in the United States. The company plans its first US product launch in 2005.
To further its US plans, Actavis announced the acquisition of Amide Pharmaceutical in May 2005. Amide is a New Jersey company and has Annual revenues of around US$100 million. Revenues for 2004 were reported at 451.7 million euros, an increase of 43% over 2003. Amongst its most successful products were citalopram, lisinopril, ciprofloxacin, paroxetine and enalapril. The majority of Actavis' sales are through its Own Brand division and its Third Party division, both of which sell finished pharmaceuticals. Additionally, Actavis sells APIs and supplies intellectual property through its Third Party division.
Medis, Actavis' third party sales company, became the first company in Germany to gain marketing authorisation for generic quinapril on 1st June 2004. The product was launched later in the year.
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