Zentiva To Acquire Select European OTC, Generic Business of AlvogenBy
Zentiva has agreed to acquire the Central and Eastern European (CEE) business of Alvogen, a provider of generics, biosimilars and over-the-counter (OTC) products, for an undisclosed amount. Zentiva is the former European generics business of Sanofi. Last year (2018), Sanofi divested Zentiva, to Advent International, a Boston-based private-equity firm, for approximately EUR 1.9 billion ($2.2 billion).
Alvogen CEE markets over 200 generic and OTC products across multiple therapeutic areas, in 14 key markets across CEE, including, Russia, Romania, Bulgaria, Hungary, Poland, and Balkan markets.
Zentiva expects to bring over more than 1,000 people from the Alvogen CEE team. The transaction is expected to close in the first quarter of 2020, subject to customary approvals.
Earlier in 2019, Zentiva integrated the teams of Creo Pharma in the UK and Solacium Pharma in Romania. In September 2019, Zentiva announced the acquisition of a manufacturing site in Ankleshwar, India. Zentiva also has multi-million-euro investments in existing manufacturing facilities in Prague, Czech Republic and Bucharest, Romania.