Biosimilar products represent a significant growth opportunity for our business and Actavis has taken a number of strategic steps to develop a portfolio of future products in this area, focused on Women’s Health and Oncology.

The Company is pursuing a strategy to build a leadership position in biosimilars, which includes a collaboration with Amgen to develop and commercialize,on a worldwide basis, biosimilar versions of Herceptin®, Avastin®, Rituxan/Mab Thera®, and Erbitux®.

These products represent some of the fastest-growing pharmaceutical products in the world with peak innovator sales topping $20 billion,and we expect the collaboration to launch its first biosimilar products beginning in 2017.

The Amgen/Actavis collaboration is in addition to Actavis’ ongoing efforts to develop and commercialize Itero Biopharmaceuticals, Inc.’s recombinant follicle stimulating hormone (rFSH) product as a biosimilar molecule for the treatment of female infertility. This program is currently in Phase I, and we expect it to progress to Phase III in 2013.

Biosimilars development efforts are managed by our Actavis Specialty Brands segment.