Intas Pharmaceuticals acquires Actavis UK & Ireland generics businesses from Teva

Transaction is part of the European Commission’s anti-trust divestiture requirements arising from Teva’s acquisition of Allergan’s generics business.

• There is a compelling strategic fit which provides Accord with increased access to UK and Irish retail and hospital markets,

• Expands the UK manufacturing presence with the addition of the high quality Barnstaple site.

• More than doubles Intas’ pan-European operations, with pro-forma revenues exceeding $500 million.

• Intas will become a top 20 generics player globally.

• The transaction is due to complete in Q4 2016, subject only to regulatory approvals.

"This transaction represents a unique opportunity for Intas to build scale in UK & Ireland - adding to our market leading hospital franchise - and creates a strong platform for further European expansion" says Mr Binish Chudgar, Vice Chairman and Managing Director of Intas. "Through our subsidiary, Accord Healthcare, we have been operating successfully in Europe for more than a decade and this acquisition will make Accord a leading generics player in the UK market. We have a clear plan for the continuation and development of the Barnstaple site and the Actavis team and we look forward to welcoming them to the Intas Group. We are confident that the cultural alignment between Accord and Actavis UK & Ireland will ensure a smooth integration."

Actavis UK & Ireland is one of the leading suppliers of generic pharmaceuticals in both the UK and Irish markets and is made up of selected assets and operations across the respective markets. The company focuses on providing high quality generics to both pharmacies and wholesalers in the UK & Ireland through their strong employee base of over 600 staff. Actavis UK & Ireland is also supported by a strong manufacturing presence in the UK at its Barnstaple site which provides services both to Actavis and other third parties. The company generated over £250 million of sales in 2015.

"Together we have a great opportunity to build on the strong foundations of our respective organisations; we are excited to join the Intas/Accord family and look forward to an exciting future together" says Sara Vincent, Actavis SVP UK and Ireland.

This transaction further demonstrates Accord’s commitment to UK manufacturing, adding to its recent significant investment to reinstate a facility closed by Sanofi Aventis in Newcastle. The Barnstaple plant will become the company’s 4th UK site, ensuring Accord has one of the most extensive local supply chains to service pharmacies, hospitals and wholesalers across UK and Ireland and also into Europe.