Expanding into emerging markets in Central and Eastern Europe and the Asia-Pacific region is expected to carry the fast-growing international generics player, Alvogen, to a group turnover of over US$1 billion within the next three years, says Robert Wessman, CEO and Executive Chairman of Alvogen in a recent interview with Generics Bulletin.
“In the Asia-Pacific region, we are integrating a series of acquisitions, including Dream Pharma and Kunwha in South Korea, as well as Lotus Pharmaceuticals in Taiwan”, Robert continues.
Meanwhile, the firm’s sister company, Alvotech, is investing heavily in both development projects and a facility in Reykjavik, Iceland, to ensure it becomes a leading player in biosimilar monoclonal antibodies.
Alvogen’s newly forged alliance with Hospira to market Europe’s first biosimilar monoclonal antibody, Inflectra (infliximab), is helping the firm to grow organically in Central and Eastern Europe and recently won it the Business Development of the Year accolade at the inaugural Generics & Biosimilars Awards. At the same time, Alvogen picked up the award for Company of the Year – Americas.
“This is a great honour,” Robert Wessman commented, “we are truly grateful for this recognition and owe much of this achievement to all the hard work put in by our expanding Alvogen team around the globe over the past five years.”
For a detailed overview of Alvogen’s strategy provided by Generics bulletin, click here.