CVC Partners Acquires Controlling Stake in Alvogen
A consortium of investors led by CVC Capital Partners and including Singapore-based investment company Temasek and Vatera Healthcare Partners have acquired a controlling stake in Alvogen,, a generic drug company, inclusive of biosimilars. The stake has been acquired from Pamplona Capital Management, Aztiq Pharma, the investment vehicle led by Robert Wessman, Alvogen‘s chief executive will remain with a significant stake and Pamplona will also retain a small stake following the transaction. Robert Wessman will continue to serve as the company's CEO.
Alvogen currently markets several biosimilars in selected regions through strategic alliances. It is investing more than $500 million in the development of monoclonal antibodies biosimilars and manufacturing capabilities. The company’s aim is to become a top 10 generic drug company. North America is the company’s largest market with over 60 pending abbreviated new drug application filings. Other markets include Romania, Hungary, Korea, Taiwan, Bulgaria and China. Currently, the company currently has over 200 strategically selected pharmaceutical projects in development and registrations and 350 marketed products.