Reykjavik (IFN) Icelandic generic pharmaceutical company Actavis is considering moving part of its production from Iceland to the UK, Actavis spokesman told IFN on Friday.

Actavis is currently in discussions with Icelandic health authorities regarding the lowering of medicine prices and whether Actavis will be permitted to move part of its operations to the UK, Actavis spokesman Halldor Kristmannsson told IFN on Friday.

According to a survey done by The Icelandic National Audit Office Icelandic generic drugs are 47% more expensive than in Denmark. A limited selection of cheap generic drugs, higher costs in manifacturing, distributing and selling all contribute to higher prices.

Kristmannsson said that in order to lower generic drug prices Actavis needs to restructure its operations, including moving part of its production to the UK. Actavis has proposed moving the productuion of 20 generic brands to the UK, which are all expensive and manifactured in small numbers since they are only made for the Icelandic market.

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