- This divestment advances the company‘s focus and investment in biosimilars and supports further expansion in Asia
Alvogen and Zentiva Group a.s (“Zentiva”) today announced that Alvogen has signed a definitive agreement to sell its Central and Eastern European business to Zentiva, for an undisclosed amount.
Alvogen CEE markets over 200 generic and over-the-counter products across multiple therapeutic areas, consisting of highly recognized brands with leading market positions in 14 key markets across CEE including Russia, Romania, Hungary, Poland and Balkan markets.
This transaction brings together two leading generics businesses in the CEE region, with complementary strengths, product portfolios, geographical footprints and cultures. The transaction is expected to close in the first quarter of 2020, subject to customary approvals.
Nick Haggar, Chief Executive Officer of Zentiva remarked:
Jefferies International Limited acted as sole financial advisor to Alvogen with White & Case serving as legal counsel in connection with the transaction.
About Zentiva Zentiva is a producer of high-quality affordable medicines serving patients in Europe and beyond. With a dedicated team of more than 3,000 people and a network of production sites - including flagship sites in Prague and Bucharest – Zentiva strives to be the champions of branded and generic medicines in Europe to better support people’s daily healthcare needs. At Zentiva it is our aspiration that healthcare should be a right and not a privilege. More than ever, people need better access to high quality affordable medicines and healthcare. We work in partnership with physicians, pharmacists, wholesalers, regulators and governments to provide the everyday solutions that we all depend on.