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Alvogen completes funding for further growth

19 November 2010

Alvogen, today announced that it has successfully closed a private placement financing.

- Further strengthens Alvogen’s global product portfolio of 200 products - Enables the company to continue to expand its marketing network

New Jersey, November 19, 2010 - Alvogen, the U.S.-based generic pharmaceuticals company, today announced that it has successfully closed a private placement financing. This financing, together with other committed funding totaling some $200 million, allows the company to build and continue to expand its robust product portfolio and marketing network in key markets around the world.

A fast growing product portfolio - Alvogen has built a dynamic product pipeline of more than 200 products and is expanding into new markets. The company aims to submit over 200 marketing authorizations in Central and Eastern Europe in 2010 and has a pipeline of 60 ANDAs for the US market.

Offices around the world – Alvogen has identified over 20 emerging markets in Europe, Asia and Latin America as its priorities for entry. Through a highly refined selection process, Alvogen targets complex generic products that have the potential for reduced market competition. The company has built an industry-leading internal development capability and a strong and effective network of industry partners that continue to support Alvogen’s growth plans.

”Alvogen continues to expand at a strong pace, driven by our global product portfolio and experienced management team. We have ambitious plans to develop Alvogen into an industry leader and this transaction allows us to continue our journey of expansion on a strong financial footing,” said Kevin Bain, Chief Financial Officer of Alvogen.

The securities issued in this financing have not been and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent an applicable exemption from the registration requirements of the U.S. Securities Act of 1933.

Morgan Stanley acted as placement agent for this transaction.