Actavis' new CEO eyes ‘further expansion’ in southern Europe, emerging markets

Actavis has a production plant in Malta at the Bulebel Industrial Estate, limits of Zejtun, employing close to 400 employees.  It was established in 1976 as Pharmamed.

A company statement issued today announced that Albrecht had been appointed as CEO of the Icelandic-based company “with immediate effect.

Current CEO Sigurdur Oli Olafsson was standing down as CEO after seven years in senior management roles during which time Actavis had “grown exponentially to become one of the world's leading generics companies,” the company statement added.

Albrecht had over 20 years of experience in the generics industry, having started his career with Sandoz in 1987 where he went on to serve as a Managing Director in the Netherlands, Germany and the United States.

In 2000 he joined Ratiopharm as global CEO during which time the company doubled sales and became the world's third-largest generic company by revenues.

In 2008 Albrecht established Cometh, a consultancy that had advised pharmaceutical companies on their growth strategies, including Actavis. Albrecht is 51 years old, an Austrian citizen and holds a PhD in law.

Following a number of acquisitions over the last decade, Actavis' senior management was currently spread across five different countries.

“A search is underway to find a central location where the senior team can be based in one place,” the company announced.

Iceland would remain a key site for manufacturing, research and development as well as for Medis, the third-party sales division.

Commenting on his departure, the outgoing Actavis chief executive said that despite the economic turbulence of the last few years, “Actavis has continued to grow and significantly strengthen its performance in key markets, including the US.

“I want to thank all the Actavis employees I've worked with over the last seven years and I wish Claudio the best of success in his role,” he concluded.

On his part, the new Actavis CEO said that he was “very pleased" to be joining a group that was “so well positioned for the future.

“Strong geographic expansion and better market penetration, especially in southern Europe and the emerging markets, will be our goal for the future,” Albrecht announced. He said he was “looking forward” to the challenges ahead and working with his new colleagues and building their future together."