In a recent interview with Generics Bulletin, Robert Wessman sets out how he will lead Alvogen to achieving a turnover of US$3 billion by the end of this decade. Wessman tells the publication that – from a standing start in 2009, with no products and one contract-manufacturing facility in the US – Alvogen today has a commercial presence in 35 countries and a global turnover of almost $800million.
During that time, the majority of Alvogen‘s growth has been achieved on an organic basis, largely through the expansion of its US portfolio; for example, Alvogen has recently expanded its niche product portfolio by introducing first-to-market rivastigmine transdermal patches. In addition, Wessman tells Generics Bulletin, “almost half of the Company‘s US pipeline of around 60 ANDAs pending approval are potential first-to-market or first-to-file opportunities”.
Complementing the organic growth story, Wessman points out that Alvogen has also made a number of major strategic acquisitions, including Labormed in Romania, Kunwha and Dream Pharma in South Korea, and Lotus in Taiwan. Alvogen’s new stakeholders, a consortium led by CVC Capital Partners, have committed to giving Alvogen “access to acquisition funds that are far more than we have had in the past”, says Wessman. Some of the markets which Wessman highlights as possible areas for further strategic investments include Latin America, Thailand, Russia, the Philippines and Indonesia.
At the core of Alvogen’s strategy is a clear focus on four key elements which have been a foundation to the company’s operational success.
Wessman states. During recent years, Alvogen has won a number of service awards including HDMA Diana Award, McKesson Trade Partner of the Year Awards and the Cardinal Health Supply Chain Excellence Awards in the United States.
Wessman also discusses the strong progress to date of Alvogen’s sister company, Alvotech. Alvotech is having good traction in developing and manufacturing a portfolio of monoclonal antibodies. Wessman says “We have a pipeline covering all major biologics coming off-patent in the next 10 year ... our biosimilar research, development and manufacturing facility will be fully operational in the first quarter of next year and product launches are scheduled from 2019.”
The Generic Pharmaceutical industry is at a cross roads,” Wessman says. “Consolidation continues both in retail and wholesale amongst the generic companies. At the same time, fewer small molecules are coming off patent and biologics are playing a leading role going forward. The generic companies of today will have a hard time 10 years from now, not having access to biosimilar products or having the right vision“ Wessman claims. “Alvogen has therefore positioned its self as a preferred partner by distinguished from its main competitors”.
For a detailed overview of Alvogen’s strategy provided by Generics bulletin, read here.