Actavis sees best-ever performance in Q1 2014

Actavis has achieved its best quarterly performance ever during the first three months of 2014, marking another period of strong growth for the rapidly-expanding business.

The firm's reported net revenue total for the quarter came to $2.66 billion (1.58 billion pounds), up by 40 percent year on year, while its earnings per share surged from  $1.99 in Q1 2013 to $3.49 this year.

Its record-breaking performance was driven by the recent acquisition of Warner Chilcott, which has greatly expanded its product portfolio. Strong sales and new product launches in key countries such as the US, UK, Russia and Sweden also contributed.

During the last year or so, the firm has completed a number of major merger and acquisition deals, beginning with the fusion of Watson and Actavis at the start of 2013. Earlier this year, it was announced that it will be purchasing Forest Laboratories in a deal worth around $25 billion.

Paul Bisaro, chairman and chief executive officer of Actavis, said: "If successfully completed later this year, this transaction will create an innovative new model in specialty pharmaceuticals and enhance our company's organic growth profile well into the next decade."