Actavis appoints Claudio Albrecht CEO
(Thomson Reuters ONE) -
Reykjavik, Iceland, 23 June 2010 ? Actavis Group, the international generic
pharmaceuticals company, today announced the appointment of former Ratiopharm
leader Dr. Claudio Albrecht as its new CEO.
Dr. Claudio Albrecht has been appointed as CEO of Actavis, with immediate
effect. He has over 20 years of experience in the generics industry, having
started his career with Sandoz in 1987 where he went on to serve as a Managing
Director in the Netherlands, Germany and the US. In 2000 he joined Ratiopharm as
global CEO during which time the company doubled sales and became the world's
third largest generic company (by revenues). In 2008 Dr. Albrecht established
Cometh, a consultancy that has advised pharmaceutical companies on their growth
strategies, including Actavis. Dr. Albrecht is 51 years old, an Austrian citizen
and holds a PhD in law.
Having led the successful restoration of Actavis' US business and a turnaround
in critical markets, Sigurdur Oli Olafsson is standing down as CEO. His
departure follows seven years in senior management roles during which time
Actavis has grown exponentially to become one of the world's leading generics
companies.
Following a number of acquisitions over the last decade, Actavis' senior
management is currently spread across five different countries. A search is
underway to find a central location where the senior team can be based in one
place. Iceland will remain a key site for manufacturing, research & development
and Medis, the third-party sales division.
Thor Bjorgolfsson, founder and chairman Actavis Group, said:
"I am delighted that we have attracted someone of Dr. Claudio Albrecht's calibre
to Actavis. I am certain that the Group will benefit considerably from his
extensive leadership qualities. His experience and determination will help drive
future growth in our great company. I would like to thank Sigurdur Oli Olafsson
for his pivotal role in keeping Actavis a strong and robust company through
difficult years."
Sigurdur Oli Olafsson said:
"Despite the economic turbulence of the last few years, Actavis has continued to
grow and significantly strengthen its performance in key markets, including the
US. I want to thank all the Actavis employees I've worked with over the last
seven years and I wish Claudio the best of success in his role."
Dr. Claudio Albrecht said:
"I am very pleased to be joining a Group that is so well positioned for the
future. Actavis has one of the best R&D pipelines in the industry, but we still
need to grow our market presence in many of the big markets. Strong geographic
expansion and better market penetration, especially in southern Europe and the
emerging markets, will be our goal for the future. I am looking forward to the
challenges ahead and working with my new colleagues and building our future
together."
# # # #
Enquiries:
Actavis Group Financial Dynamics (London)
Hjordis Arnadottir Charles Armitstead
Tel: +354 535 2300 / +354 840 7476 Tel: +44 7703 330 269
E-mail: harnadottir(at)actavis.com
About Actavis Group
Actavis is one of the world's leading generic pharmaceutical companies
specializing in the development, manufacture and sale of generic
pharmaceuticals. The company has operations in 40 countries, with 10,000
employees. For further information on Actavis Group, please visit
www.actavis.com
Any statements contained in this press release that refer to Actavis' estimated
or anticipated future results or future activities are forward-looking
statements which reflect the Company's current analysis of existing trends,
information and plans. These forward-looking statements are subject to a number
of risks and uncertainties that could cause actual results to differ materially
depending on factors such as the availability of resources, the timing and
effect of regulatory actions, the success of new products, the strength of
competition, the success of research and development issues, unexpected contract
breaches or terminations, exposure to product liability and other lawsuits, the
effect of currency fluctuations and other factors.
[HUG#1426559]
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Actavis via Thomson Reuters ONE
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