Actavis
Encyclopedia
Iceland
Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...
that was founded in 1956 as Pharmaco. Listed on the Icelandic Stock Exchange until 2007, it was taken private by Novator Partners, an investment vehicle of the chairman Björgólfur Thor Björgólfsson
Björgólfur Thor Björgólfsson
Björgólfur Thor Björgólfsson , known internationally as Thor Bjorgolfsson, is an Icelandic businessman and entrepreneur, and former chairman of the financial firm Straumur-Burðarás and chairman of investment firm Novator Partners.He has been declared "Iceland's first billionaire", and was ranked as...
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In the late 1990s, Actavis employed fewer than one hundred people and operated solely in the Icelandic market. In 1999, Actavis acquired Bulgarian rival Balkanpharma, beginning a period of substantial growth.
Since then, Actavis has made 25 acquisitions and now operates in 40 countries and employs over 11,000 people. The Group has one of the broadest portfolios in the generics sector with over 650 products on the market, in addition to over 400 products in the development pipeline and in registration.
Actavis is currently among the five largest generic pharmaceutical companies in the world. Its turnover for 2006 is predicted to be 1,390 million euros, compared to 56 million euros in 1999.
The chairman of the company is Icelandic businessman Björgólfur Thor Björgólfsson
Björgólfur Thor Björgólfsson
Björgólfur Thor Björgólfsson , known internationally as Thor Bjorgolfsson, is an Icelandic businessman and entrepreneur, and former chairman of the financial firm Straumur-Burðarás and chairman of investment firm Novator Partners.He has been declared "Iceland's first billionaire", and was ranked as...
. Robert Wessman became President and CEO of Actavis following the company’s merger with Delta in 2002, where he had served as CEO since 1999. A business graduate and lecturer at the University of Iceland
University of Iceland
The University of Iceland is a public research university in Reykjavík, Iceland, and the country's oldest and largest institution of higher education. Founded in 1911, it has grown steadily from a small civil servants' school to a modern comprehensive university, providing instruction for about...
, Wessman worked previously at Icelandic transportation company Samskip, advancing to the post of CEO in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
. Robert is also a Board Member of the Icelandic Chamber of Commerce
Chamber of commerce
A chamber of commerce is a form of business network, e.g., a local organization of businesses whose goal is to further the interests of businesses. Business owners in towns and cities form these local societies to advocate on behalf of the business community...
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On the 24th of November 2006, Actavis announced the departure of Svafa Gronfeldt, Deputy to the CEO. She left Actavis to pursue a new position as Dean of Reykjavik University
Reykjavík University
Reykjavík University is a private university in Reykjavík, Iceland, and is chartered by the Chamber of Commerce, the Federation of Icelandic Industries, and the Confederation of Icelandic Employers....
. Sigurður Óli Ólafson took her place as Deputy to the CEO. On 5 August 2008, Róbert Wessmann stepped down as the CEO to focus on his personal investments through his company, Salt Investments. Sigurður Óli Ólafsson took his place as CEO.
On the 23rd June 2010 it was announced that Sigurdur Oli Olafsson would step down as CEO and Claudio Albrecht, former CEO of Ratiopharm and an experienced consultant to the pharmaceutical industry, would be appointed as the Group‘s CEO.
One noteworthy service offered by Actavis is the "Evidence-based medicine
Evidence-based medicine
Evidence-based medicine or evidence-based practice aims to apply the best available evidence gained from the scientific method to clinical decision making. It seeks to assess the strength of evidence of the risks and benefits of treatments and diagnostic tests...
(EBM) Research Service". The service is free of charge for registered Medical Doctors (MD's) and is offered out of Austria and Switzerland. A registered MD can send a research inquiry to an Actavis team of specialists from Austrian universities, who will research the topic and provide a research report to back to the MD.