Actavis, a global specialty pharmaceutical company, has opened its new regional office in Singapore, which will serve as the headquarters for the company's Asia Pacific and Africa (APACA) region.
In addition, Actavis announced its subsidiary Drug Houses of Australia (DHA), which operates in Singapore, will be transitioned to the Actavis brand.
Actavis has provided the Singapore healthcare market, through its DHA business, a broad portfolio of pharmaceuticals including generics, brands and over-the-counter (OTC) products. The company also operates a manufacturing facility in Singapore, producing a range of products in various formulations including tablets, capsules, oral solutions, dry suspensions, ointments and liniments. In total, Actavis has more than 130 employees in Singapore.
According to IMS data, the pharmaceutical market in Asia is expected to reach $350 billion in 2016, comprising approximately 30% of the global pharmaceutical market and driving close to 50% of global, incremental growth through 2016.
Regionally, Actavis has positions in Singapore, Indonesia, Hong Kong, Australia and New Zealand and is quickly growing in Vietnam and Malaysia. Last year, Actavis launched more than 70 new products and filed more than 85 applications for new products within the region.
"Singapore offers the ideal strategic location for Actavis' Asia Pacific headquarters," said Hordur Thorhallsson, senior vice president, APACA. "The centralized location within the region provides ready access to the Asia Pacific markets, and it offers excellent logistical and regulatory infrastructure and a government with exceptional knowledge and experience working with the global pharmaceutical industry."