Actavis buys Indian supplier of drug ingredients

STOCKHOLM, Feb 13 (Reuters) Iceland-based generic drug maker Actavis said on Tuesday it had bought a company in India that supplies active pharmaceutical ingredients to European and US international drugmakers.

Actavis, which has been expanding rapidly, said it was buying the Active Pharmaceutical Ingredient (API) unit of Sanmar Specialty Chemicals, part of the Sanmar Group in India.

It said the division ''provides Actavis with ... the ability to develop and manufacture its own APIs, the single largest cost component in the group's manufacturing''.

Actavis did not disclose the acquisition price.

Actavis is in the running to buy Merck KGaA's generic drug business after last year losing a battle for Croatian drug maker Pliva to Barr Pharmaceuticals Inc of the United States.

REUTERS PKS GC1448