Actavis' 1st qtr sales rocket 236%

As a result of a stream of recent acquisitions, (Marketletters passim), Icelandic drugmaker Actavis has posted a massive 236% rise in revenues, which reached 341.9 million euros ($435.0 million) for the first quarter of 2006. Underlying growth, based on the businesses the group owned in first-quarter 2005, was equal to 20% at constant exchange rates.

Net profit leapt 202% to 31.3 million euros, with fully-diluted earnings per share rising 58%. The firm posted an earnings before interest, tax, depreciation and amortization margin of 21.1%, which it says is a reflection of improved performance in the USA.

Among the group's four divisions: Central & Eastern Europe and Asia saw sales grow 62% to 116.5 million euros; Western Europe, Middle East and Africa reported turnover of 71.9 million euros, up 21%, with 95% generated as a result of acquisitions completed in 2005; North America posted a 33% rise in revenues to 113.0 million euros; and Third-Party Sales increased 11% to 38.9 million euros.