Icelandic economic crisis does not affect Actavis

Generic pharmaceutical company Actavis has said that its operations will not be impacted by the current financial turmoil in Iceland.

Actavis has released a statement in light of recent market events in the Icelandic financial sector.

”Actavis is not exposed to the Icelandic banks in regards to funding or normal banking facilities. Our banking operations are with international banks not exposed to the current events in Iceland. We therefore, as before, have full banking operations without restrictions, both to make payments and receive payments.”

The company also said its books are in euros and that it will remain focused on providing quality pharmaceutical products to its customers.

Actavis is a global generic drugs company with a turnover of around EUR1.7bn this year. Only1% of its revenue is generated in Iceland.

The company says it continues to see rising demand and will launch new products to customers in the US, Europe and other major markets.

Actavis, which is headquartered in Reykjavik, has operations in 40 countries around the world and 11,000 employees.

Visit the Actavis website for more information on the generic drugs manufacturer.