Actavis sees double-digit growth in second quarter of 2014

Actavis has announced its financial results for the second quarter of 2014, during which it generated a net revenue total of $2.67 billion (1.59 billion pounds).

This represented a 34 percent year-on-year increase, with earnings also seeing a significant surge. Its strong growth can be attributed to improved generics sales and an expanded US portfolio following last year's Warner Chilcott takeover.

Complementing this strong performance were the good results delivered by Forest Laboratories in its final quarter as a standalone company, before the recent closure of Actavis' takeover of the firm.

Forest delivered 41 percent year-on-year growth to reach a revenue total of more than $1.1 billion during the three months. This, plus the subsequent completion of the takeover of Furiex Pharmaceuticals in July, will position Actavis well for further rapid growth.

Brent Saunders, the new chief executive officer and president of Actavis, said: "We have been moving aggressively to build on the capabilities of the combined business post-close and to implement our integration initiatives as we build a new breed of specialty pharmaceutical company."

Actavis is now one of the world's fastest-growing pharmaceutical firms, with annual revenues of more than $15 billion anticipated for 2015.