Sigurdur Oli Olafsson, CEO Actavis and Masao Yamaguchi, Senior Managing Director ASKA Pharmaceutical sign the legal agreement at Actavis headquarters in Iceland.

Following the signature of a preliminary agreement last November, Actavis Group and ASKA Pharmaceutical have now formally signed an agreement establishing a joint company: Actavis ASKA K.K.

The joint company will enter the Japanese generic pharmaceutical market in April 2009. ASKA will hold 55% of shares in the joint venture; Actavis 45%.

Sigurdur Oli Olafsson, CEO, Actavis:
“We are convinced this is the best way to enter the Japanese market. We bring the power of a global generic pharmaceutical company to the table, while ASKA is an experienced local partner. We are very much looking forward to a long and successful partnership. The government’s policy to increase the share of generics during the next few years is key to our decision to enter at this time.”

About ASKA
Located in Tokyo, Japan, ASKA Pharmaceutical is a research and development (R&D) oriented company, which contributes to society by developing and providing innovative pharmaceutical products, concentrating its management resources to the specific therapeutic areas. Additional information about ASKA is available through its corporate website.

Summary of joint company

Name: Actavis ASKA K.K.
Head Office: Tokyo
Capital: 200 million Yen (planned)
Investment ratio: ASKA: 55%, Actavis: 45%
Establishment: 1 April 2009 (planned)