December 30, 2008 10:08 ET

Actavis Acquires Kadian®; Extends Specialty Drug Portfolio in US

HAFNARFJORDUR, ICELAND--(Marketwire - December 30, 2008) - Morristown, NJ, 30 December, 2008 -- Actavis today announced that it has acquired the brand name drug Kadian® from King Pharmaceuticals for not more than USD127.5M, based on quarterly sales related milestones, ending 30 June 2010.

Kadian® which is an extended release morphine sulfate product, is the first originator brand product to be marketed by Actavis US. The company anticipates marketing Kadian® only in the United States.

"The acquisition of Kadian is the latest step in Actavis' strategy to expand our specialty drug portfolio and is well aligned with our emphasis on bringing complex controlled-release products to the marketplace," said Actavis US CEO Doug Boothe. "Kadian has enjoyed significant market share and we are excited about its continued prospects as a drug that benefits many patients."

Kadian®, used to treat moderate to severe chronic pain, is a currently marketed in 20mg, 30mg, 50mg, 60mg, 80mg, 100mg and 200mg dosage strength capsules. Kadian's wide range of dosage strengths allows physicians to give patients more treatment options in managing their pain.

Actavis and its Elizabeth NJ facility have a long history with Kadian®. The product was originally developed and commercially launched at the facility. Actavis has been the contract manufacturer for Kadian® since 2005, when Actavis acquired Alpharma's human generics business.

About Actavis

Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. The company has operations in 40 countries, with 11,000 employees. The United States is the company's single largest market. Actavis' US operations are located in New Jersey, Maryland, North Carolina and Florida.

Any statements contained in this press release that refer to Actavis' estimated or anticipated future results or future activities are forward-looking statements which reflect the Company's current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions, the success of new products, the strength of competition, the success of research and development issues, unexpected contract breaches or terminations, exposure to product liability and other lawsuits, the effect of currency fluctuations and other factors.

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