Actavis sales jump 57% in Q3

DUBLIN — Actavis had sales of $2.01 billion in third quarter 2013, a 57% increase over the same period last year, the drug maker said Tuesday.

Profits for the quarter were $65.5 million, down from $76.7 million in third quarter 2012. The quarter's results exclude figures from Ireland-based Warner Chilcott, which Actavis acquired at the beginning of the month.

For the company's generics business, highlights of the quarter include the launch of generic versions of Endo Pharmaceuticals' painkiller Opana ER (oxymorphone); Endo's painkiller patch Lidoderm (lidocaine); and the Food and Drug Administration's approval of a generic version of GlaxoSmithKline's epilepsy and bipolar disorder treatment Lamictal ODT (lamotrigine).

"Double-digit revenue and earnings growth marked another exceptional quarter for Actavis Inc. as we continue to accelerate our transformation into a global specialty pharmaceutical leader," Actavis chairman and CEO Paul Bisaro said. "Strong global growth in our Actavis Pharma segment was driven by our ability to capitalize on product opportunities from our industry-leading R&D pipeline."

The company's Actavis Specialty Brands segment, which makes drugs for indications like contraception and bladder problems, also experienced strong sales, Bisaro said.