Actavis confirms Silom takeover and Singapore office launch

Actavis has announced a number of business deals that tie into its global expansion efforts and strengthen its position in the Asian market.

The company has agreed a deal worth around $100 million (60.26 million pounds) to purchase Silom Medical, a generic pharmaceutical company focused on developing and marketing therapies in Thailand.

It immediately elevates Actavis into a top five position in the Thai generic pharmaceutical market and comes in the same week that the firm also opened a new regional office in Singapore that will serve as its headquarters for the Asia Pacific and Africa region.

Moreover, it was confirmed that its subsidiary operating in Singapore – Drug Houses of Australia – will be transitioned to the Actavis brand.

Paul Bisaro, chairman and chief executive officer of Actavis, said the Singapore office "is an important step in Actavis' global expansion and further evidence of our commitment to being a leading provider of a full range of pharmaceutical products in the region".

The company also announced this week that it has completed the divestiture of its generics operations in seven western European markets to Aurobindo Pharma, as previously announced in January 2014.