Allergan Plans To Transfer Production from IcelandBy
Allergan (formerly known as Actavis) has decided to move production of its pharmaceutical plant in Iceland to other production units of the company. The company said it is doing so for budgetary reasons. Its decision follows the closing of the approximate $70 billion acquisition of Allergan by Actavis in March 2015. In June 2015, the combined company took on the Allergan name; the Actavis name was retained for the company’s US and Canadian generics businesses.
No changes are planned in the operation of the Icelandic plant in the near future, and the company said that decision will not affect jobs currently but the first changes will be felt, at the end of 2016 when the first phase of the transfer of production begins. It is expected that the activities of the plant in Iceland will be closed by mid-2017. Other activities in Iceland will be unchanged. Approximately 300 employees are in the production unit in Iceland, and about 400 employees are in other units of the company in Iceland.
The company recently underwent a review of its production units globally and said in a statement that this audit showed that other facilities in the company were flexible to assume the production that will be transferred.