Actavis Ray of Hope for Beleaguered Iceland

Iceland's global generics company Actavis Group is offering some light relief to the country's ongoing economic woes by increasing the capacity of its manufacturing site in Hafnarfjordur by 50%, thus creating fifty new jobs.

Production on the new facility, which exports 95% of its products, is expected to start at the end of this year. After expansion the SOD-site's capacity will be about 1.5 billion tablets per year, depending on the mix of products.

Actavis currently employs around 570 people in Iceland (which has a population of only 320,000) and over 10,000 people worldwide.