Actavis completes its acquisition of Higia AD in Bulgaria
The combination of Actavis' strong portfolio and manufacturing capabilities with Higia's strategically important foothold in the distribution of pharmaceuticals in Bulgaria, is expected to generate significant opportunities to drive Actavis' revenue growth in this important market. Currently, Bulgaria is the Group's second largest market, with some EUR46 million in sales for first nine months in 2005 (12% of Group product sales). Higia's distribution network covers over 2000 pharmacies and has a significant share of pharmacy and hospital sales in the Bulgarian market.
The purchase price was not disclosed and the transaction will be financed through a long-term credit facility.
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