Actavis sells generic-pharma ops in seven European markets

|By:, SA News Editor

Actavis (ACT) has agreed to sell its generic-drug operations in seven western-European countries to India's Aurobindo Pharma for around €30M ($41M).

The countries are France, Italy, Spain, Portugal, Belgium, Germany and Holland.

"This transaction will permit Actavis to focus management time and resources to support accelerated investment in driving faster growth of other markets, including Central and Eastern Europe and Southeast Asia," Actavis said.

News of the deal comes after Actavis said it intends to end its presence in China due to the difficult business climate. (PR)