Actavis announces corporate restructuring for greater efficiency

Actavis has announced a series of major changes to its corporate structure as it seeks to become the world's leading global specialty pharmaceutical company.

The company's global generics, specialty brands, branded generics, legacy brands, over-the-counter and third-party commercial operations and business development have been consolidated into a single new division.

Siggi Olafsson, president of Actavis Pharma, will lead this unit, while its generic, brand, inhalation and biosimilars research and development organisations will also become a unified division under the leadership of Fred Wilkinson, the new president of Actavis Global Research and Development.

These changes will maximise the company's efficiency and commercial capabilities, allowing it to move ahead into a new phase of growth.

Paul Bisaro, chairman and chief executive officer of Actavis, said: "Combining our commercial operations will dramatically strengthen Actavis' position as a global provider of pharmaceutical products to our patients in our diverse customer base."

Actavis has undergone significant growth in the last two years, having merged with Watson Pharmaceuticals in 2012, before going on to acquire Warner Chilcott last year.