Czech pharmaceutical firm Zentiva has bought the Central and Eastern European business of Alvogen, for an undisclosed amount.
Alvogen CEE markets over 200 generic and over-the-counter products across multiple therapeutic areas, with many of its brands holding leading positions in 14 key markets across the region, including Bulgaria, Hungary, Poland, Romania and the Balkans.
Nick Haggar, CEO of Zentiva said: “This acquisition is a perfect fit for Zentiva and supports the execution of our strategy. Zentiva will strengthen its leadership in Central and Eastern Europe while expanding into new markets and significantly increase its specialty and OTC medicines portfolio. We look forward to welcoming more than 1,000 people from the Alvogen CEE team into our Zentiva community. Together, we will be even stronger as we continue working on our primary mission of providing high-quality and affordable medicines to people in Europe and beyond.”
Earlier in 2019, Zentiva integrated the teams of Creo Pharma in the UK and Solacium Pharma in Romania into the Zentiva group. In September, Zentiva also announced acquisition of a manufacturing site in Ankleshwar in India, as well as multi-million euro investments in existing manufacturing facilities in Prague and Bucharest.