ACTAVIS ACQUIRES REMAINING STAKE IN TURKISH PHARMACEUTICAL COMPANY FAKO
Actavis Group, the international generic pharmaceuticals company, today announces
that it has acquired the remaining 11% stake in the Turkish generic pharmaceuticals
company Fako for US$20.4 million. Fako now becomes a wholly-owned subsidiary of
the Actavis Group. Actavis acquired an 89% stake in Fako in December 2003 for
an initial purchase price of US$63 million. In addition, Actavis agreed to provide
Fako with up to US$15 million to assist its funding requirements.