Finasteride 5mg tablets are the generic equivalent of Merck & Company’s Proscar(r) tablets which are indicated for the treatment of benign prostatic hypertrophy (BPH).

Annual
sales of Finasteride 5mg tablets in the U.S. were approximately US$364
million for the twelve months ending March 2007, according to IMS
Health data.

Doug Boothe, Executive VP of U.S. Commercial &
Administration, said, “The launch of Finasteride tablets in the United
States exemplifies the synergy generated from Actavis’ global R&D,
sourcing and manufacturing network, and represents an important
addition to our rapidly expanding product portfolio in the U.S.
market.”

About Actavis

Actavis is one of the world’s
leading generic pharmaceutical companies specializing in the
development, manufacture and sale of generic pharmaceuticals. Based in
Iceland, the company has operations in 39 countries, with 11,000
employees. The company’s market capitalization is approximately EUR3.3
billion and is listed on the OMX stock exchange in Iceland. Actavis
expects 2007 sales to total EUR1.6bn, with approximately one-third of
these sales coming from the United States, the company’s single largest
market.

Information in this press release may contain
forward-looking statements with respect to the financial condition,
results of operations and businesses of Actavis. By their nature,
forward-looking statements and forecasts involve risk and uncertainty
because they relate to events and depend on circumstances that will
occur in the future. There are a number of factors that could cause
actual results and developments to differ materially from that
expressed or implied by these forward-looking statements. These factors
include, among other things, exchange rate fluctuations, the risk that
research and development will not yield new products that achieve
commercial success, the impact of competition, price controls and price
reductions, the risk of loss or expiration of patents or trade marks,
difficulties of obtaining and maintaining governmental approvals for
products, the risk of substantial product liability claims, exposure to
environmental liability.