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Archive for April 4th, 2014

Marken Releases Results Of Industry Survey

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— Company Noted for Quality and On Time Delivery

RESEARCH TRIANGLE PARK, N.C., April 3, 2014 /PRNewswire/ — Marken announced today the completion of an industry wide, independent market research study. The survey included 250 key decision makers of clinical trial logistics services from pharmaceutical companies, central laboratories, clinical research organizations and manufacturing service providers in North America, Central & South America, Europe, and Asia. Key topics profiled in the survey included market trends, industry pain points and selection criteria for logistics providers.

Logo – http://photos.prnewswire.com/prnh/20110930/NY78064LOGO

Respondents indicated that 64% of supply chain executives plan to increase their expenditure in clinical trial logistics in the next two years. The nature and complexity of new drugs and their protocols entering clinical development will increase their use of dedicated supply chain providers in the space. Temperature control capabilities (57%) and guaranteed on time delivery within specifications (53%) as well as real time traceability of shipments (49%) were the dominant reasons for companies moving to specialty providers such as Marken. More than 50% reported that their organization had moved their clinical trials logistics business to a dedicated supply chain provider such as Marken within the previous 24 months.

Wes Wheeler, Chief Executive Officer of Marken, commented, “An increasing focus on rare diseases requires the industry to recruit patients from a larger pool of countries across the globe. The increased complexity of the drugs themselves, many of which are temperature sensitive and of high value, tells us the service provided by a specialty courier such as Marken satisfies a critical need in the supply chain and the successful completion of each clinical trial. We were very pleased to reaffirm that our strategy aligns well with what our clients and potential clients need most.”

The survey was conducted by an outside firm familiar with the pharma outsourcing market and contains a significant amount of informative data on the industry, the key decision makers and their decision making criteria. A full copy of the survey results can be made available upon request by contacting Marken at christine.noble@marken.com.

Marken sponsors this type of research along with workshops and round table events all around the globe in order to facilitate information-sharing among the life science and pharma industries. As a thought leader, Marken drives industry collaboration by communicating trends and new ideas so that the industry can learn and grow together.

About Marken
Marken is the leading global clinical supply chain solutions provider dedicated to the pharmaceutical and life sciences industries, supporting over 49,000 clinical investigators in more than 150 countries. Marken integrates depot and logistics into solutions that extend the reach of clinical trials to even the most remote treatment-naive geographies.
Source: Marken

Written by asiafreshnews

April 4, 2014 at 8:34 pm

Posted in Uncategorized

intoPIX Bridges the World of Professional Video Production and Ethernet Networks with New AVB FPGA IP-cores

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MONT-SAINT-GUIBERT, Belgium, April 3, 2014 /PRNewswire/ — At the upcoming NAB show, the leading technology provider intoPIX (booth C5243) is announcing new IEEE 802.1 and IEEE1722 Ethernet AVB (Audio Video Bridging) FPGA IP-cores made to boost the Broadcast studios and facilities transition towards a fully networked infrastructure with a cost effective and future-proof standard that offers a maximum of reliability, quality and interoperability.
intoPIX Bridges the World of Professional Video Production and Ethernet Networks with New AVB FPGA IP-cores
intoPIX Bridges the World of Professional Video Production and Ethernet Networks with New AVB FPGA IP-cores

“Our AVB FPGA IP-cores will enable Broadcasters to work with a true network workflow replacing traditional point to point connections and eliminating the need for dedicated audio and video matrix switchers.” said Gael Rouvroy, Chief Technology Officer of intoPIX.

The two first AVB IP-cores will be both available for Altera and Xilinx FPGAs, first demos will be made during Q3 2014 and product availability is announced for 2015.

The IPX-AVB10G-Video IP-core is designed for 10 GbE and brings a complete Ethernet AVB protocol support to move current SDI-based production workflows to a smart and scalable Ethernet network infrastructure. With an option to lock to a network reference, it will also support the SDI Profile and manage up to 4 video inputs/outputs and 64 audio channels. The IPX-AVB1G-Audio IP-core is designed for 1G Ethernet and brings a complete Ethernet AVB audio protocol support. The IP-core is designed with a very small FPGA footprint and support up to 64 audio channels and can be locked to a network reference as well.

intoPIX wants to enable equipment manufacturers to take full advantage of the many benefits of Audio Video Bridging, accelerating product development and enabling a rapid network interoperability. intoPIX new coming AVB IP-cores will be already featured at the intoPIX booth (C5243) at NAB Show next week and also at infoComm in June.

About AVB (Audio Video Bridge)

IEEE 802.1 and IEEE 1722 Audio Video Bridging (AVB) standards provide the highest quality and most reliable streaming A/V experience. Ethernet AVB provides networked time-synchronized low latency streaming, automatic bandwidth reservation and optimal bandwidth utilization via traffic shaping. The standard is particularly suitable for broadcast studios and facilities, pro-AV applications, and also automotive or consumer electronics.

About intoPIX

intoPIX is a leading supplier of video and image compression technology to audiovisual equipment manufacturers. We are passionate about offering people a higher quality image experience and have developed FPGA IP-cores and solutions that enable leading-edge video and image compression, security, video transport and hardware enforcement. More about intoPIX can be found on http://www.intopix.com.
Source: intoPIX

Written by asiafreshnews

April 4, 2014 at 7:50 pm

Posted in Uncategorized

Far East Energy Announces a 32% Increase in SEC Proved Reserves; Production in the First Quarter of 2014 Up 96% Compared to the Same Period in 2013; Standard Chartered Bank Provides a Further 3 Month Extension of the Existing Facility; Form 10K Filed March 31, 2014

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HOUSTON, April 1, 2014 /PRNewswire/ — Far East Energy Corporation (OTCBB:FEEC), the U.S. listed company that operates the Shouyang Block Coalbed Methane (CBM) Production Sharing Contract (PSC) in Shanxi Province, People’s Republic of China is pleased to announce that the maturity date of the existing bridge facility with Standard Chartered Bank (SCB) has been extended to July 15, 2014, from the previous date of April 15, 2014.

In connection with the release of its 2013 results, the Company announced the results of its updated SEC reserve report prepared by the independent petroleum engineers, Resource Investment Strategy Consultants (“RISC”). As of December 31, 2013, the Company had estimated net proved gas reserves of 67.5 billion cubic feet (“Bcf”), an increase of 32% over last year’s net proved gas reserves of 51.3 Bcf. This increase reflects the results of the 2013 drilling program, specifically in the 1H Pilot Area, which is the core gas production zone for the Company and, hence, provides the ability to upgrade reserves to the Proved from the Probable category. The increased reserve figures, together with the higher gas prices now being received (2014 price of approximately $9 per thousand cubic feet) have combined to drive an increase in the value of the block. The net present value of future cash flows discounted at 10% (“NPV10”) for the Proved and Probable (2P) reserves is now $1.4 billion (up 73% compared to the same period last year).

Commenting, CEO Mike McElwrath said, “It is gratifying that the work that went in on the Shouyang Block during 2013 has resulted in a significant increase to SEC Proved reserves. I think it’s also important to remember that these reserves are still based on the evaluation of only a portion of the block, which implies significant upside potential for our reserves.”

As a result of the 2013 drilling and fracing program, gas production from Shouyang has risen significantly in recent months. During the first quarter of 2014, FEEC produced a total of 175.5MMcf of gas, up 96% compared to the same period in 2013.

The 2013 Form 10-K has been filed with the SEC, is available on our web site, and includes the following relating to our reserves:

The Year End 2013 Reserve Report prepared by RISC, evaluates, as of December 31, 2013, the estimated proved, probable and possible coalbed methane gas reserves attributable to the three (3) target coal seams (#3, #9 and #15) in Far East Energy’s Shouyang Block, Shanxi Province, PRC.

The reserve estimates have been prepared in accordance with definitions and regulations of the U.S. Securities and Exchange Commission (SEC) and the FASB Accounting Standards Codification Topic 932, Extractive Industries-Oil and Gas with the exclusion of future income tax and Chinese VAT. RISC’s estimates of Proved, Probable and Possible follow:

Net Reserves Future Net Revenue $ Million
Category MMscf Undiscounted 10% Discount
Total Proved 67,501 343.5 167.3
Total Probable 372,418 2,254.8 1,242.9
Total Possible 109,378 873.3 563.1
Notes:

The standardized measure of discounted future net cash flows for proved oil and gas reserves is $151.8 million and the NPV10 valuation for proved reserves is $167.3 million, while the combined 2P (proved and probable) NPV10 valuation for these reserves is $1.4 billion. Adding in the NPV10 value of the possible reserves would take the total 3P value to $2.0 billion.

Additional Information Regarding Estimates of Reserves

NPV10 and the standardized measure of discounted future net cash flows do not purport to be, nor should they be interpreted to present, the fair value of the coalbed methane reserves of the Shouyang project. An estimate of fair value would take into account, among other things, the recovery of reserves not presently classified as proved, the value of unproved properties, and consideration of expected future economic and operating conditions.

Estimated future production of Proved Reserves and estimated future production and development costs of Proved Reserves are based on current costs and economic conditions. Future income tax expenses are computed using the appropriate year-end statutory tax rates applied to the future pre-tax net cash flows from proved coalbed methane reserves, less the tax basis of Far East Energy. All wellhead prices are held flat over the forecast period for all reserve categories. The estimated future net cash flows are then discounted at a rate of 10%.

NPV10 for proved reserves may be considered a non-GAAP financial measure as defined by the SEC and is derived from the standardized measure of discounted future net cash flows for proved reserves, which is the most directly comparable US GAAP financial measure. NPV10 is computed on the same basis as the standardized measure of discounted future net cash flows for proved reserves but without deducting future income taxes. As of December 31, 2013, our estimated discounted future income taxes were $15.5 million and, accordingly, our standardized measure of after-tax discounted future net cash flows for Proved Reserves was $151.8 million whereas our NPV10 was $167.3 million. We believe NPV10 is a useful measure for investors for evaluating the relative monetary significance of our coalbed methane properties. We further believe investors may utilize our NPV10 as a basis for comparison of the relative size and value of our proved reserves to other companies because many factors that are unique to each individual company impact the amount of future income taxes to be paid. Our management uses this measure when assessing the potential return on investment related to our coalbed methane properties and acquisitions. However, NPV10 is not a substitute for the standardized measure of discounted future net cash flows. Our NPV10 and the standardized measure of discounted future net cash flows do not purport to present the fair value of our proved coalbed methane gas reserves.

NPV10 for probable and possible reserve amounts above represent the present value of estimated future revenues to be generated from the production of probable or possible reserves, calculated net of estimated lease operating expenses, production taxes and future development costs, using costs as of the date of estimation without future escalation and using contracted prices and 12-month average exchange rate, without giving effect to non-property related expenses such as general and administrative expenses, debt service and depreciation, depletion and amortization, or future income taxes and discounted using an annual discount rate of 10%. With respect to NPV10 amounts for probable or possible reserves, there do not exist any directly comparable US GAAP measures, and such amounts do not purport to present the fair value of our probable and possible reserves.

It is not intended that NPV10 or the FASB’s standardized measure of discounted future net cash flows for proved reserves represent the fair market value of Far East Energy’s proved, probable or possible reserves. Far East Energy cautions that the disclosures shown above are based on estimates of proved, probable or possible reserve quantities and future production schedules which are inherently imprecise and subject to revision, and the 10% discount rate is arbitrary. In addition, costs and prices as of the measurement date are used in the determinations, and no value may be assigned to probable or possible reserves. Estimates of economically recoverable coalbed methane reserves and of future net revenues are based upon a number of variable factors and assumptions, all of which are to some degree subjective and may vary considerably from actual results. Therefore, actual production, revenues, development and operating expenditures may not occur as estimated. The reserve data are estimates only, are subject to many uncertainties and are based on data gained from production histories and on assumptions as to geologic formations and other matters. Actual quantities of coalbed methane may differ materially from the amounts estimated.

Far East Energy Corporation

Based in Houston, Texas, with offices in Beijing, and Taiyuan City, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.

Statements contained in this press release that state the intentions, hopes, estimates, beliefs, anticipations, expectations or predictions of the future of Far East Energy Corporation and its management are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. It is important to note that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, including that the amendment to the PSC may not be entered into or if entered into may not be on the same terms as originally agreed upon by the parties. Actual results could differ materially from those projected in such forward-looking statements. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation and drilling programs may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation, to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; our inability to extract or sell all or a substantial portion of our reserves and other resources; we may not satisfy requirements for listing our securities on a securities exchange; expropriation and other risks associated with foreign operations; disruptions in capital markets affecting fundraising; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations, as well as other risks described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and subsequent filings with the Securities and Exchange Commission.
Source: Far East Energy Corporation

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April 4, 2014 at 7:36 pm

Posted in Uncategorized

Actavis Launches Asia Pacific Regional Headquarters in Singapore

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– Centralized Headquarters to help drive Company’s Geographic Expansion, Growth in Emerging Markets throughout Southeast Asia –

– Singapore-based subsidiary Drug Houses of Australia (DHA) begins transition to Actavis brand –

SINGAPORE, April 3, 2014 /PRNewswire/ — Actavis plc (NYSE: ACT), a leading global specialty pharmaceutical company, today announced the official opening of its new regional office in Singapore that will serve as the headquarters for the Company’s Asia Pacific and Africa (APACA) region.

Logo – http://photos.prnewswire.com/prnh/20130124/NY47381LOGO

In addition, Actavis announced that its subsidiary operating in Singapore — Drug Houses of Australia Pte Ltd (DHA) — will be transitioned to the Actavis brand. Drug Houses of Australia is Singapore’s leading manufacturer of generic drugs and a key driver in the biomedical sciences sector that accounts for approximately five percent of the city-state’s gross domestic product.

“The opening of our new regional headquarters in Singapore is an important step in Actavis’ global expansion and further evidence of our commitment to being a leading provider of a full range of pharmaceutical products in the region,” said Paul Bisaro, Chairman and CEO of Actavis. “By centralizing our regional operations in Singapore, we will be better positioned to focus on strategies that will strengthen our growth in emerging markets across Southeast Asia, enabling consumers to have increased access to affordable, high-quality medicines that help them live longer, healthier lives.”

Actavis has been a long-time leader in the Singapore healthcare market through its DHA business, which offers a broad portfolio of pharmaceuticals including generics, brands and over-the-counter (OTC) products, and maintains the number one position in the country’s generic market. The Company also operates a manufacturing facility in Singapore, producing a range of products in various formulations, including tablets, capsules, oral solutions, dry suspensions, ointments and liniments. In total, Actavis employs more than 130 people in Singapore.

“The opening of Actavis’ regional headquarters in Singapore is an endorsement of our position as a hub for pharmaceutical companies to drive their business growth in the Asia Pacific region,” said Mr. Yeoh Keat Chuan, Managing Director, Singapore Economic Development Board. “We firmly believe that Singapore’s strong connectivity to the region, our status as a trusted location, availability of talent and network of professional services firms enable companies to access regional and global markets. We warmly welcome Actavis’ decision to establish its regional headquarters in Singapore.”

According to IMS data, the pharmaceutical market in Asia is expected to reach $350 billion in 2016, comprising approximately 30 percent of the global pharmaceutical market and driving close to 50 percent of global, incremental growth through 2016.

Regionally, Actavis has leading positions in Singapore, Indonesia, Hong Kong, Australia and New Zealand, and is quickly growing in Vietnam and Malaysia. Last year, Actavis launched more than 70 new products and filed more than 85 applications for new products within the region.

“Singapore offers the ideal strategic location for Actavis’ Asia Pacific headquarters,” said Hordur Thorhallsson, Actavis’ Senior Vice President, APACA. “The centralized location within the region provides ready access to the Asia Pacific markets, and it offers excellent logistical and regulatory infrastructure and a government with exceptional knowledge and experience working with the global pharmaceutical industry. We look forward to further establishing and strengthening our operations in Singapore in the years to come.”

About Actavis

Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA.

Actavis develops and manufactures generic, brand, branded generic, legacy brands and Over-the-Counter (OTC) pharmaceutical products and has commercial operations in approximately 60 countries. The Company’s North American branded pharmaceuticals business is focused principally in the Women’s Health, Urology, Gastroenterology and Dermatology therapeutic categories with a strong pipeline of products in various stages of development. Actavis also has a portfolio of five biosimilar products in development in Women’s Health and Oncology. Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, and includes Anda, Inc., a U.S. pharmaceutical product distributor.

For press release and other company information, visit Actavis’ Web site at http://www.actavis.com.

Forward Looking Statement

Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Actavis’ current perspective of existing trends and information as of the date of this release. For instance, any statements in this press release concerning prospects related to Actavis’ strategic initiatives are forward-looking statements. Except as expressly required by law, Actavis disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Actavis’ current expectations depending upon a number of factors affecting Actavis’ business. These factors include, among others, the anticipated size of the markets and anticipated demand for Actavis’ products; the impact of competitive products and pricing; the inherent uncertainty associated with financial projections; periodic dependence on a small number of products for a significant source of net revenue or income; variability of trade-buying patterns; changes in generally accepted accounting principles; the risks and uncertainties normally incident to the pharmaceutical industry; risks that the carrying values of assets may be negatively impacted by future events and circumstances; the timing and success of product launches; the difficulty of predicting the timing or outcome of product development efforts and regulatory agency approvals or actions, if any; market acceptance of and continued demand for Actavis’ products; costs and efforts to defend or enforce intellectual property rights; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with governmental regulations applicable to Actavis’ facilities, products and/or businesses; changes in the laws and regulations affecting, among other things, pricing and reimbursement of pharmaceutical products; and other risks and uncertainties detailed in Actavis’ periodic public filings with the Securities and Exchange Commission, including but not limited to Actavis plc’s Annual Report on Form 10-K for the year ended December 31, 2013. Except as expressly required by law, Actavis disclaims any intent or obligation to update these forward-looking statements.

CONTACTS:
Investors:
Lisa DeFrancesco
+1-862-261-7152

Media:
Charlie Mayr
+1-862-261-8030

David Belian
+1-862-261-8141

Charlie Chan
+65-9739-4324
Source: Actavis, Inc.

Written by asiafreshnews

April 4, 2014 at 7:15 pm

Posted in Uncategorized

Ipreo Launches “RoadshowAccess” Virtual Roadshow Platform

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An innovative and secure platform to create, broadcast and view virtual management presentations for capital-raising events across all asset classes

NEW YORK, April 2, 2014 /PRNewswire/ — Ipreo, a leading global provider of market intelligence, investor data and workflow solutions to capital markets and corporate professionals, announced the release of RoadshowAccess, a web-based solution that automates, simplifies and enhances all elements of virtual management presentation logistics and viewing, in connection with new-issuance marketing across equity, fixed income and U.S. municipal bonds.

RoadshowAccess brings streamlined workflow and an enhanced experience to capital markets professionals and investors of all types through sleek and modern interfaces. Key features include:

Capital Markets execution tools – Sell-side banking professionals can create and manage virtual presentations and analyze viewership metrics.
Enhanced viewing experience for Investors – The buy side can view virtual roadshow presentations and access deal related documents in a centralized portal.
Universal accessibility – RoadshowAccess is available on all browsers (such as Internet Explorer, Chrome, Firefox, and Safari), and can be accessed on tablets, smart phones and other mobile devices.
Compliance – RoadshowAccess is designed to address current market practices, as well as legal and regulatory obligations, involving electronic communications.

RoadshowAccess is different from other virtual roadshow solutions on the market in a number of important ways:

Not just a viewing platform – RoadshowAccess serves as an online medium to create and manage all logistics for virtual management presentations, beyond serving simply as the conventional viewing platform for investors.
Integrated workflow – Only RoadshowAccess connects to Ipreo’s industry-leading suite of bookbuilding applications and institutional investor database, providing capital markets professionals with seamless workflows, enhanced security, and sophisticated analytics integrated into the order book.
Superior customer service – Ipreo has a long-standing reputation for high-touch client service; RoadshowAccess clients will benefit from a dedicated service team with deep knowledge of the entire deal process.

“We saw a real opportunity to apply better technology to help our sell-side and corporate clients generate more interest and reach more investors on their deals, as well as to improve the overall virtual roadshow experience for all participants,” said Jennifer Sun, EVP and Managing Director of Global Equity Capital Markets at Ipreo. “Furthermore, Ipreo is uniquely positioned to integrate the virtual roadshow workflow with our existing bookbuilding platforms to allow our clients to execute deals faster and more efficiently, while also integrating viewership data into the order books to drive more informed allocation decisions.”

RoadshowAccess can be accessed by both capital markets professionals and institutional investors at http://www.roadshowaccess.com/. Retail investors have a separate address to access public presentations at http://www.roadshowaccessretail.com/.

About Ipreo
Ipreo is a global leader in providing market intelligence, data, and technology solutions to all participants in the global capital markets, including sell-side banks, publicly traded companies, and buy-side institutions. From new issuance through ongoing investor management, our unique solutions drive connectivity and efficiency throughout all stages of the capital-raising process. Ipreo is a KKR portfolio company with more than 700 employees supporting clients in every major financial hub around the world. For more information, please go to http://www.ipreo.com/.
Source: Ipreo

Written by asiafreshnews

April 4, 2014 at 6:54 pm

Posted in Uncategorized

Sungard Availability Services Now an Independent Company; Launches New Brand Identity

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WAYNE, Pennsylvania, April 1, 2014 /PRNewswire/ — Sungard Availability Services (Sungard AS), a leading provider of information availability through managed IT, cloud and recovery services, has announced that it is now a standalone company, following its split-off from SunGard Data Systems Inc. The new company, with annual revenues of approximately $1.4 billion and operations in 11 countries, will remain headquartered in Wayne.

As a result of the split-off, Sungard AS now has its own Board of Directors and brand. “Now that we are an independent firm, we have the flexibility to evolve our culture, our industry relationships and our investments to maximize our business and best serve customers,” said CEO Andrew A. Stern.

“Today’s announcement is the next step towards creating a highly-focused IT services business that’s dedicated to providing world-class managed / availability services to our customer base,” Stern noted. “All of us here at Sungard AS are very excited about the prospects to accelerate our growth, and we look forward to continue partnering with our customers to deliver the business outcomes they need.”

Sungard AS today revealed its new brand identity, which includes a new logo. The company, which pioneered the concept of shared IT disaster recovery infrastructure more than 30 years ago, will continue to leverage its “always on, always available” brand positioning. Its new logo represents strength and dynamism. A forward-leaning angle in the logo conveys progression and growth, while a triangle in the logo represents stability and the support that the company will continue to provide its customers.

Sungard AS leverages its scale and global reach to address its approximately 7,000 customers’ cloud, managed hosting and recovery-services needs. “Our company will continue to focus investments in our newer service offerings, which include Enterprise Managed Services, Enterprise Cloud Services, Recovery as a Service and AssuranceCM, our next-generation business continuity management software offering,” Stern said.

For additional information on Sungard AS, please visit http://www.sungardas.com.

About Sungard Availability Services

Sungard Availability Services has more than 30 years of experience providing flexible availability services that help ensure organizations keep applications always on, always available. The company leverages its proven expertise to provide managed IT services, information availability consulting services, business continuity management software and disaster recovery to clients in North America and Europe. Sungard Availability Services helps customers improve the resiliency of their mission critical systems by designing, implementing and managing cost-effective solutions using people, process and technology to address enterprise IT availability needs.

To learn more, visit http://www.sungardas.com or call 1-800-468-7483. Connect with us on Twitter, LinkedIn and Facebook.

Trademark Information: Sungard Availability Services is a trademark of SunGard Data Systems or its affiliate, used under license. The Sungard Availability Services logo by itself is a trademark of Sungard Availability Services Capital, Inc. or its affiliate.
Source: Sungard Availability Services

Written by asiafreshnews

April 4, 2014 at 6:34 pm

Posted in Uncategorized

BGC Partners Updates Its Outlook for the First Quarter of 2014

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NEW YORK, April 1, 2014 /PRNewswire/ — BGC Partners, Inc. (NASDAQ: BGCP) (“BGC Partners,” “BGC,” or “the Company”), a leading global brokerage company servicing the financial and real estate markets, today announced that it has updated its outlook for the first quarter of 2014.

The Company expects its financial results for the quarter ending March 31, 2014 to be around the high-end of the range of its previously stated guidance for revenues and earnings. The Company’s first quarter outlook was originally published in its financial results press release dated February 12, 2014 as follows:

First Quarter 2014 Outlook Compared with First Quarter 2013 Results
* The Company expected to generate distributable earnings revenues of between approximately $410 million and $440 million compared with $449.8 million.
* BGC Partners anticipated pre-tax distributable earnings to be between approximately $41 million and $52 million versus $45.1 million.
* BGC Partners expected its effective tax rate for distributable earnings to remain around 15 percent for the full year 2014.[1]

BGC’s first quarter 2014 financial results announcement is currently expected to be issued before the market open on Thursday, May 1, 2014. Confirmation of this date and details of the related conference call will be forthcoming in a later press release.

Distributable Earnings Defined
BGC Partners uses non-GAAP financial measures including “revenues for distributable earnings,” “pre-tax distributable earnings” and “post-tax distributable earnings,” which are supplemental measures of operating performance that are used by management to evaluate the financial performance of the Company and its subsidiaries. BGC Partners believes that distributable earnings best reflect the operating earnings generated by the Company on a consolidated basis and are the earnings which management considers available for distribution to BGC Partners, Inc. and its common stockholders, as well as to holders of BGC Holdings partnership units during any period.

As compared with “income (loss) from operations before income taxes,” “net income (loss) for fully diluted shares,” and “fully diluted earnings (loss) per share,” all prepared in accordance with GAAP, distributable earnings calculations primarily exclude certain non-cash compensation and other expenses which generally do not involve the receipt or outlay of cash by the Company, which do not dilute existing stockholders, and which do not have economic consequences, as described below. In addition, distributable earnings calculations exclude certain gains and charges that management believes do not best reflect the ordinary operating results of BGC.

Revenues for distributable earnings are defined as GAAP revenues excluding the impact of BGC Partners, Inc.’s non-cash earnings or losses related to its equity investments, such as in Aqua Securities, L.P. and ELX Futures, L.P., and its holding company general partner, ELX Futures Holdings LLC. Revenues for distributable earnings include the collection of receivables which would have been recognized for GAAP other than for the effect of acquisition accounting. Revenues for distributable earnings also exclude certain one-time or unusual gains that are recognized under GAAP, because the Company does not believe such gains are reflective of its ongoing, ordinary operations.

Pre-tax distributable earnings are defined as GAAP income (loss) from operations before income taxes excluding items that are primarily non-cash, non-dilutive, and non-economic, such as:
* Non-cash stock-based equity compensation charges for REUs granted or issued prior to the merger of BGC Partners, Inc. with and into eSpeed, as well as post-merger non-cash, non-dilutive equity-based compensation related to partnership unit exchange or conversion.
* Allocations of net income to founding/working partner and other limited partnership units, including REUs, RPUs, PSUs, LPUs, and PSIs.
* Non-cash asset impairment charges, if any.

Distributable earnings calculations also exclude charges related to purchases, cancellations or redemptions of partnership interests and certain unusual, one-time or non-recurring items, if any.

“Compensation and employee benefits” expense for distributable earnings will also include broker commission payouts relating to the aforementioned collection of receivables.

BGC’s definition of distributable earnings also excludes certain gains and charges with respect to acquisitions, dispositions, or resolutions of litigation. This exclusion pertains to the one-time gain related to the NASDAQ OMX transaction. Management believes that excluding these gains and charges best reflects the operating performance of BGC. However, because NASDAQ OMX is expected to pay BGC in an equal amount of stock on a regular basis for 15 years as part of the transaction, the payments associated with BGC’s receipt of such stock are expected to be included in the Company’s calculation of distributable earnings. To make quarter-to-quarter comparisons more meaningful, one-quarter of the annual contingent earn-out amount will be included in the Company’s calculation of distributable earnings each quarter as “other revenues.”

Since distributable earnings are calculated on a pre-tax basis, management intends to also report “post-tax distributable earnings” and “post-tax distributable earnings per fully diluted share”:
* “Post-tax distributable earnings” are defined as pre-tax distributable earnings adjusted to assume that all pre-tax distributable earnings were taxed at the same effective rate.
* “Post-tax distributable earnings per fully diluted share” are defined as post-tax distributable earnings divided by the weighted-average number of fully diluted shares for the period.

BGC’s distributable earnings per share calculations assume either that:
* The fully diluted share count includes the shares related to the dilutive instruments, such as the Convertible Senior Notes, but excludes the associated interest expense, net of tax, when the impact would be dilutive; or
* The fully diluted share count excludes the shares related to these instruments, but includes the associated interest expense, net of tax.

Each quarter, the dividend to common stockholders is expected to be determined by the Company’s Board of Directors with reference to post-tax distributable earnings per fully diluted share. In addition to the Company’s quarterly dividend to common stockholders, BGC Partners expects to pay a pro-rata distribution of net income to BGC Holdings founding/working partner and other limited partnership units, including REUs, RPUs, LPUs, PSUs and PSIs, and to Cantor for its noncontrolling interest. The amount of all of these payments is expected to be determined using the above definition of pre-tax distributable earnings per share.

Certain employees who are holders of RSUs are granted pro-rata payments equivalent to the amount of dividends paid to common stockholders. Under GAAP, a portion of the dividend equivalents on RSUs is required to be taken as a compensation charge in the period paid. However, to the extent that they represent cash payments made from the prior period’s distributable earnings, they do not dilute existing stockholders and are therefore excluded from the calculation of distributable earnings.

Distributable earnings is not meant to be an exact measure of cash generated by operations and available for distribution, nor should it be considered in isolation or as an alternative to cash flow from operations or GAAP net income (loss). The Company views distributable earnings as a metric that is not necessarily indicative of liquidity or the cash available to fund its operations.

Pre- and post-tax distributable earnings are not intended to replace the Company’s presentation of GAAP financial results. However, management believes that they help provide investors with a clearer understanding of BGC Partners’ financial performance and offer useful information to both management and investors regarding certain financial and business trends related to the Company’s financial condition and results of operations. Management believes that distributable earnings and the GAAP measures of financial performance should be considered together.

Management does not anticipate providing an outlook for GAAP “revenues,” “income (loss) from operations before income taxes,” “net income (loss) for fully diluted shares,” and “fully diluted earnings (loss) per share,” because the items previously identified as excluded from pre-tax distributable earnings and post-tax distributable earnings are difficult to forecast. Management will instead provide its outlook only as it relates to revenues for distributable earnings, pre-tax distributable earnings and post-tax distributable earnings.

For more information on this topic, please see the tables in our most recent financial results press release entitled “Reconciliation of Revenues Under GAAP and Distributable Earnings,” and “Reconciliation of GAAP Income to Distributable Earnings” which provide a summary reconciliation between pre- and post-tax distributable earnings and the corresponding GAAP measures for the Company in the periods discussed in our most recent financial results press release.

About BGC Partners, Inc.
BGC Partners is a leading global brokerage company servicing the financial and real estate markets. Products include fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, commodities, futures, and structured products. BGC also provides a wide range of services, including trade execution, broker-dealer services, clearing, processing, information, and other back-office services to a broad range of financial and non-financial institutions. Through its BGC Trader and BGC Market Data brands, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. Through the Newmark Grubb Knight Frank brand, the Company offers a wide range of commercial real estate services including leasing and corporate advisory, investment sales and financial services, consulting, project and development management, and property and facilities management. BGC’s customers include many of the world’s largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, property owners, real estate developers, and investment firms. For more information, please visit http://www.bgcpartners.com.

BGC, BGC Trader, Grubb & Ellis, Grubb and Newmark are trademarks and service marks of BGC Partners, Inc. and its affiliates. Knight Frank is a service mark of Knight Frank Limited Corp., used with permission.

Discussion of Forward-Looking Statements by BGC Partners
Statements in this document regarding BGC Partners’ business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. Except as required by law, BGC undertakes no obligation to release any revisions to any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see BGC’s Securities and Exchange Commission filings, including, but not limited to, the risk factors set forth in our public filings, including our most recent Form 10-K and any updates to such risk factors contained in subsequent Form 10-Q or Form 8-K filings.
[1] BGC’s post-tax distributable earnings per share calculations assume either that the fully diluted share count includes the shares related to the dilutive instruments, such as the Convertible Senior Notes, but excludes the associated interest expense when the impact would be dilutive, or that the fully diluted share count excludes the shares related to these instruments, but includes the associated interest expense. In the first quarter of 2014, the pre-tax interest expense associated with the Convertible Senior Notes was expected to be $6.2 million while the post-tax interest expense was expected to be $5.3 million, and the associated weighted-average share count was expected to be 40.0 million, all based on distributable earnings.

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Source: BGC Partners, Inc.

Written by asiafreshnews

April 4, 2014 at 6:27 pm

Posted in Uncategorized

Greenwich Associates Ranks Top Asset Managers In Service Quality To Asian Private And Retail Banks

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— Asian Fund Distributors Forced to Contend With Sub-Standard Service Quality
STAMFORD, Conn., April 1, 2014 /PRNewswire/ — Private and retail banks in Asia receive lower quality service from investment fund providers than their counterparts in Europe and North America, and service standards in Asia could slip further as several large asset management firms scale back resource commitments to the channel.
New research from Greenwich Associates helps fund distributors navigate this challenge by identifying the top-ranked asset managers in Asia in terms of service quality provided to private and retail banks.
Although gatekeepers for the fund platforms of private banks and retail banks in Asia have essentially the same mandate, they face starkly different challenges. Gatekeepers for retail banks must sift carefully through a limited number of asset managers competing for their business to find those fund providers that are willing and able to deliver appropriate levels of service. Private bank gatekeepers have a much wider array of options.
“Given the fact that a number of asset managers need to pull back resource commitments to the channel, Asian retail banks in search of better service from asset managers should consolidate their relationships and form collaborative partnerships with top-ranked firms to ensure adequate attention and service over a long-term horizon,” says Greenwich Associates consultant Abhi Shroff. “Private banks should be open to asset managers without significant, pan-Asian intermediary distribution capabilities—if those providers’ funds meet the platform’s criteria in investment and other categories.”
Top-Ranked Asset Managers in Asia in Terms of Service Quality
To help gatekeepers in both channels find the right managers with which to partner, Greenwich Associates provides the following rankings showing the top-rated service quality providers to Asian retail banks and private banks.
Top Managers in Distributor Servicing Quality – Based on Scoring by Gatekeepers

Ranking by Private Banks Ranking by Retail Banks
1. PIMCO 1. J.P. Morgan Asset Management
2. Allianz Global Investors 2. Allianz Global Investors
3. J.P. Morgan Asset Management 3. Fidelity
4. Franklin Templeton 4. BlackRock
5. Amundi Asset Management 5. Franklin Templeton
For more information contact:
Joan Weber Melanie Riera
+1 (203) 625 4354 +1 (203) 625 5160
joan.weber@greenwich.com melanie.riera@greenwich.com
Greenwich Associates provides data and insights to help our Clients make smarter business decisions and give them a significant competitive advantage. As their authoritative data source, as well as their resource for deep market research and research-based consulting, we empower our Clients to improve customer experience, enhance operational performance and optimize development initiatives, which ultimately drive financial performance. Greenwich Associates has over 40 years of experience and is based in Stamford, CT, with additional offices in Pleasanton, CA, London, Toronto, Tokyo, and Singapore. Please contact us for further information or to arrange an interview with one of our consultants. You can visit our website, http://www.greenwich.com, for more information.
Follow us: @greenwichassoc
Source: Greenwich Associates

Written by asiafreshnews

April 4, 2014 at 5:55 pm

Posted in All releases

Frost & Sullivan Applauds Heller for Continuing to Outpace the Competition in the SMT Reflow Soldering Equipment Market

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— The company stands out for its technology and product leadership, and maintenance of close customer relationships

MOUNTAIN VIEW, California, April 1, 2014 /PRNewswire/ — Based on its recent analysis of the surface mount technology (SMT) reflow soldering equipment market, Frost & Sullivan recognizes Heller Industries with the 2013 Global Frost & Sullivan Award for Company of the Year. Unmindful of the intensifying competition, Heller continues to grow and has captured 20 percent of the SMT reflow soldering equipment market. The company benefited from the increasing penetration in the cell phone segment, which helped it achieve record financial performance in 2012 and the same level of profitability in 2013.

“Heller’s growth is driven by an impressive product line and its innovative growth strategies that have enabled it to fulfill its customer requirements, whether it is flux reduction, nitrogen and energy cost-savings, environment-friendly strategies, or a faster return on investment (RoI),” said Frost & Sullivan Research Analyst.

Handling of flux is among the top challenges for customers, as it can leave residue that drips onto the circuit board and within the oven. The company has developed a solution called “flux reactors,” which contains a catalyst. The catalyst, flux, and oxygen create a chemical reaction, during which the flux is reduced and oxygen is burnt out. This helps customers save 20-30 percent of their nitrogen costs and eliminates flux.

Flux reduction is a significant focus area for customers that demand preventive maintenance with no downtime. Preventive maintenance in an oven can last six hours and includes cool-down time, actual clean time, and reheating. Heller’s innovative solution is expected to let the reflow oven run for six months without downtime for preventive maintenance.

Heller also leads in terms of open collaboration with customers. It has set up a customary advisory board with 14 customers, which meet twice a year to conduct brainstorming sessions for cutting-edge technology and product roadmap development.

The company’s dedication to understanding customer requirements is further evidenced by the launch of its applications lab in China, Korea, and in the United States with a clean room facility. Through these partnerships, Heller assists customers with application problems related to soldering by sending its in-house team of experts to solve the issue at no additional charge.

From a service standpoint, one of the biggest differentiators for Heller is that the company has service personnel situated at the customer site to reduce machine downtime. This strategy is utilized for top customers that work in a very high-volume and low-profit business environment.

To further alleviate the issue of downtimes in SMT reflow soldering, Heller follows an escalations schedule, which states: If an issue with the reflow oven is not fixed in 24 hours by the local service personnel, it will be reverted to the factory. This elevates it from being a service problem to an engineering problem. If the issue is still not resolved in 72 hours, the company sends an engineering person from the headquarters to the customer base to ensure a resolution.

Another focus area for Heller is enhancing the value-per-dollar for customers. Traditionally, reflow ovens are manufactured for single lane/conveyor production. Heller is focusing on dual-lane retrofitting to eliminate investments in a new oven and factory floor space.

“Heller also has strong business interests in field retrofits and refurbished equipment,” noted Analyst from Frost & Sullivan. “The company has taken customer service to a higher level by focusing on customers’ buying experience and not just selling the reflow ovens. It helps customers upgrade from old reflow ovens to the current technology for a fraction of the cost of a new purchase.”

Overall, the company has retained its market position by constantly strengthening its distribution network and training its sales and service teams. It has also gained a reputation for being a technology thought leader, which has translated to strong client loyalty and long-term partnerships. Strategically, it leverages these partnerships and close customer relationships to understand the product roadmap that clients are seeking.

Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of growth strategy and implementation. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.

About Heller Industries

Heller Industries is a global industry leading supplier of thermal process solutions for the Semiconductor, SMT and Solar markets. Heller has pioneered many significant technology innovations in the reflow and curing processes. http://www.hellerindustries.com

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion

Join Us: Join our community

Subscribe: Newsletter on “the next big thing”

Register: Gain access to visionary innovation

Contact:

Mireya Espinoza
P: +1.210. 247.3870
F: +1.210.348.1003
E: mireya.espinoza@frost.com
Source: Frost & Sullivan

Written by asiafreshnews

April 4, 2014 at 5:43 pm

Posted in Uncategorized

Actavis Acquires Silom Medical Company

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— Establishes Leading Position in Fast-Growing Thai Pharmaceutical Market —

— Immediately Accretive to Non-GAAP Earnings —

— Enhances Actavis’ Growth Platform in Southeast Asia —

DUBLIN, April 1, 2014 /PRNewswire/ — Actavis plc (NYSE: ACT), a leading global specialty pharmaceutical company today announced that it has acquired Silom Medical Company, a privately held generic pharmaceutical company focused on developing and marketing therapies in Thailand, for approximately $100 million in cash. The acquisition of Silom Medical immediately elevates Actavis into a top-five position in the Thai generic pharmaceutical market, with leading positions in the ophthalmic and respiratory therapeutic categories and a strong cardiovascular franchise. The transaction is expected to be immediately accretive to non-GAAP earnings in 2014.

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“The acquisition of Silom Medical demonstrates our commitment to be a leading specialty pharmaceutical company in Southeast Asia, and will provide the combined business with an even more significant and united presence in the fast-growing Thai pharmaceutical market,” said Paul Bisaro, Chairman and CEO of Actavis. “Silom Medical’s diverse product portfolio and fully integrated platform, when combined with Actavis’ current local commercial activities and world-class global generics infrastructure, will provide consumers in Thailand with expanded access to a combined, larger portfolio of affordable medicines and the increased opportunity to benefit from products in development for the market. The larger presence in Thailand will also create a foundation for Actavis’ continued expansion across the Southeast Asian region.”

Actavis currently markets approximately a dozen products through local distributors in Thailand, and has approximately nine additional products under registration. The combination is anticipated to result in opportunities to expand the core therapeutic areas of cardiovascular, ophthalmology and respiratory with complementary and novel products, as well as the potential to use Silom Medical’s sales channels to create opportunities in new therapeutic categories including Oncology, Women’s Health, CNS and others.

Silom Medical is one of Thailand’s leading generic pharmaceutical companies, offering more than 25 products in various dosage forms to more than 4,400 hospitals, clinics and drugstores throughout the country. The Company has an experienced, in-house sales force and operates a 32,000 sq. meter manufacturing facility in Ayutthaya with a production capacity of 660 million tablets/capsules and 47 million sterile units per year. Silom Medical has delivered consistent, year-on-year growth in revenue and profit over the past 15 years, most recently exceeding double-digit growth.

According to Business Monitor International, Thailand’s pharmaceutical market is valued at approximately $4.3 Billion and is poised for continued growth. Pharmaceutical sales in the country are expected to grow at a compound annual rate of approximately 8 percent, reaching approximately $9 Billion by 2022.

About Actavis

Actavis plc (NYSE: ACT) is a global, integrated specialty pharmaceutical company focused on developing, manufacturing and distributing generic, brand and biosimilar products. Actavis has global headquarters in Dublin, Ireland and U.S. administrative headquarters in Parsippany, New Jersey, USA.

Actavis develops and manufactures generic, brand, branded generic, legacy brands and Over-the-Counter (OTC) pharmaceutical products and has commercial operations in approximately 60 countries. The Company’s North American branded pharmaceuticals business is focused principally in the Women’s Health, Urology, Gastroenterology and Dermatology therapeutic categories with a strong pipeline of products in various stages of development. Actavis also has a portfolio of five biosimilar products in development in Women’s Health and Oncology. Actavis Global Operations has more than 30 manufacturing and distribution facilities around the world, and includes Anda, Inc., a U.S. pharmaceutical product distributor.

For press release and other company information, visit Actavis’ Web site at http://www.actavis.com.

Forward-Looking Statement

Any statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Actavis’ current perspective of existing trends and information as of the date of this release. For instance, any statements in this press release concerning prospects related to Actavis’ strategic initiatives, including the acquisition of Silom Medical Company, are forward-looking statements. Except as expressly required by law, Actavis disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Actavis’ current expectations depending upon a number of factors affecting Actavis’ business. These factors include, among others, successful consummation and integration of the Silom Medical acquisition and the ability to recognize the anticipated synergies and benefits of the Silom Medical acquisition; the anticipated size of the markets and anticipated demand for Silom Medical’s products; the impact of competitive products and pricing; the inherent uncertainty associated with financial projections; periodic dependence on a small number of products for a significant source of net revenue or income; variability of trade-buying patterns; changes in generally accepted accounting principles; the risks and uncertainties normally incident to the pharmaceutical industry; risks that the carrying values of assets may be negatively impacted by future events and circumstances; the timing and success of product launches; the difficulty of predicting the timing or outcome of product development efforts and regulatory agency approvals or actions, if any; market acceptance of and continued demand for Actavis’ and Silom Medical’s products; costs and efforts to defend or enforce intellectual property rights; difficulties or delays in manufacturing; the availability and pricing of third party sourced products and materials; successful compliance with governmental regulations applicable to Actavis’ and Silom Medical’s facilities, products and/or businesses; changes in the laws and regulations affecting, among other things, pricing and reimbursement of pharmaceutical products; and other risks and uncertainties detailed in Actavis’ periodic public filings with the Securities and Exchange Commission, including but not limited to Actavis plc’s Annual Report on Form 10-K for the year ended December 31, 2013. Except as expressly required by law, Actavis disclaims any intent or obligation to update these forward-looking statements.

CONTACTS:

Investors:
Lisa DeFrancesco
(862) 261-7152

Media:
Charlie Mayr
(862) 261-8030

David Belian
(862) 261-8141
Source: Actavis plc

Written by asiafreshnews

April 4, 2014 at 5:24 pm

Posted in Uncategorized