Actavis' 2006 profits up 27%, on 138% sales hike

Icelandic generic pharmaceuticals group Actavis says that its net profit for the full year 2006 was 102.7 million euros ($134.5 million), up 26.8% on 2005. The firm added that this included a charge of 22.4 million euros due to its attempted acquisition of Croatian drugmaker Pliva (Marketletter September 25, 2006), as well as 23.7 million euros relating to the amortization of intangibles.

Revenues soar on Alpharma contribution

Actavis' revenues for the year were also improved, growing 138.2 % to 1.38 billion euros. The firm said that the figure included, for the first time, the turnover contribution from USA-based specialty drugmaker Alpharma, which it purchased in 2005 (Marketletters passim). It added that the revenue expansion represents an underlying organic growth rate of 9.4% for the year.