Alvogen announced today the completion of the sale of its Central and Eastern European (CEE) business to Zentiva for an undisclosed value. The sale of the company’s CEE platform includes over 200 generic and over-the-counter products across multiple therapeutic areas and covering 14 key markets.
The sale will allow Alvogen to focus on their key priorities within high growth and high potential Business units. For the US market, this includes Alvogen’s specialty branded business (Almatica) and its complex generic launches through Alvogen.
Alvogen is a majority owner of an Asia/Pacific platform through Lotus Pharmaceuticals where the aim is to be among the leading global players in oral oncology products.
Alvogen’s business to business platform (Alvogen B2B) is growing rapidly and connects Alvogen’s pipeline with world class marketers of pharmaceutical products in their respective regions and home markets. The transaction for the sale of CEE was first announced in October of 2019.
“We began building a platform in the CEE region on a greenfield basis starting in 2010, which lead us on an incredible and exciting journey for the company over the last decade. The business is set for success and future growth, fuelled by an amazing team and a strong portfolio. The sale to Zentiva represents an ideal fit with a complementary combination of platforms. I wish the new combined entity great success in the future,” said Robert Wessman, Chairman and CEO of Alvogen.