Actavis Divests Norgesplaster
Published: 01-Feb-2010
Actavis has sold Norgesplaster, its manufacturing facility for plasters and athletic tape and adhesive coating, in Vennesla, Norway, to a newly formed entity, Norgesplaster AS. Norgesplaster AS is a legal entity owned by private Norwegian investors. The transaction covers all assets and contracts related to Norgesplaster.
Actavis became the owner of Norgesplaster in December 2005, following the acquisition of the generics division of Alpharma. Actavis' focus remains on its core business, generic pharmaceuticals. Actavis will continue to operate a sales and marketing office in Oslo for pharmaceutical products.
Norgesplaster is Norway's supplier of plasters and medical grade anchored products. Actavis and Norgesplaster AS will work together to ensure that there will be no disruption in supply or services. Current employees will continue to be employed by Norgesplaster.
The transaction was closed on 29 January 2010, but will have financial effect from 1 January 2010. The financial details of the transaction were not disclosed.
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