Actavis is from 17 May 2004 the new name for the Pharmaco Group of companies. The name change is a step towards building a major international brand in generic pharmaceuticals.
The move forms part of a broader strategy to consolidate the various businesses within the Icelandic-headquartered group in order to build a leading global pharmaceuticals company offering customers faster, better access to the latest generic products.
The introduction of the Actavis name on 17th May will unite the group companies under one brand after a four year period of significant expansion through organic growth and international acquisitions. Today, the group employs around 7,000 people in 25 countries in Europe, North America, the Middle East and Australia.
The name change will initially affect six brands within the group: Balkanpharma, a leading pharmaceutical brand in Eastern Europe, the Baltic republics, Russia and the CIS countries; Delta and Omega Farma in Iceland; Pharmamed in Malta; United Nordic Pharma in Scandinavia; and the Iceland-based holding company Pharmaco. The group’s two other businesses - Fako in Turkey and Zdravlje in Serbia - will continue to trade under their existing names for the time being, but will carry the sub-branding ‘An Actavis company’.
Medis, the group’s division dealing with third party sales, will retain its current identity.
A new logo and corporate identity will be gradually introduced across the business and its products over the coming months.
The company believes that its strategy of uniting its businesses under the Actavis brand will help it to respond to the significant market opportunity for generic pharmaceuticals as patents expire on blockbuster products in the coming years.
Group president and chief executive officer Robert Wessman said; “Our group has come a long way in a very short time, and the market for generic pharmaceuticals is changing very fast. Uniting our group under the Actavis brand will be a key asset in helping us fulfil our vision to become a leading global generic pharmaceuticals company.
“While our relationship with our customers will not change, being part of a bigger brand will help us to offer an even better standard of service in the future. By consolidating our development expertise, production capabilities and customer service network, we aim to offer faster access to the latest generic products and a wide portfolio of affordable, high quality pharmaceuticals.”