Actavis (ICE:ACT) Restructuring Manufacturing Operations In Bulgaria

Actavis (ICE:ACT) Razgrad, Bulgaria, 8 December 2008 -- Actavis Group, the international generic pharmaceutical company, has today signed a Letter of Intent to sell its manufacturing subsidiary in Bulgaria "Balkanpharma-Razgrad AD" to a newly formed company "Antibiotic-Razgrad AD". The new company has been set up by representatives of current management at the plant in Razgrad with the aim of managing and developing its manufacturing assets.

Actavis will simultaneously, on closing, enter into a contract manufacturing agreement with the new company so that Actavis can continue to have security of supply for its current portfolio of products manufactured in the plant. Thus, Actavis will continue to market all products without interruption.

The Razgrad site, which produces antibiotics in different forms: tablets and capsules, powder injections and sterile liquid forms, creams and unguents, is the smallest of three Actavis manufacturing sites in Bulgaria. Actavis has no plans to divest its Bulgarian manufacturing sites at Dupnitza (tablets, capsules) and Troyan (suspensions, gels, ointments, syrups), which are of strategic importance for the Actavis operation.

Dimitar Papazov, Managing Director, Antibiotic-Razgrad AD: "This local-management buy-out provides the new owners with an excellent opportunity to leverage idle capacity at the Razgrad plant. Antibiotic-Razgrad will be contract manufacturers for Actavis and fully intend to add more such contracts in the near future in order to improve cost and competitiveness. Our activities will remain closely linked to Actavis and we will continue to follow Actavis' best practices and high quality standards."

Ivan Urumov, Managing Director, Actavis Operations, Bulgaria: "Actavis has built a solid platform in the past and our main focus in 2008 has been on integration and organic growth. While consolidating our manufacturing into core facilities, we have increasingly been bringing in contract manufacturing. At the same time, we are investing in future growth and expanding our pipeline, with portfolio acquisitions, in-licensing, and of course our own research and development. We are delighted to sign a manufacturing contract with the new owners of the Razgrad facility, a group we of course know and trust. We presume ours will be only one of their manufacturing contracts at the factory in the future."

Subject to necessary regulatory consents, Actavis and Antibiotic-Razgrad expect to close this deal within the next two months.

About Actavis Actavis is one of the world's leading generic pharmaceutical companies specializing in the development, manufacture and sale of generic pharmaceuticals. The company has operations in 40 countries, with 11,000 employees. In Bulgaria, Actavis tops the list for generics sales and has the broadest local portfolio with almost 260 products. Actavis has launched about 40 new products to the Bulgarian market this year.

Enquiries Actavis Bulgaria Margret Barzachka Nikolova Tel: +359 701 58111 E-mail: mabarzachka@actavis.bg

Actavis Group Hjördís Árnadóttir Director, External Communications Tel: +354 535 2300 E-mail: harnadottir@actavis.com Any statements contained in this press release that refer to Actavis' estimated or anticipated future results or future activities are forward-looking statements which reflect the Company's current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions, the success of new products, the strength of competition, the success of research and development issues, unexpected contract breaches or terminations, exposure to product liability and other lawsuits, the effect of currency fluctuations and other factors.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Actavis

http://www.actavis.com

ISIN: IS0000000420

Stock Identifier: ICEX.ACT