Alvogen And Zentiva Complete CEE Deal
Alvogen Aims To Focus On US And Asia-Pacific Regions
Alvogen’s central and eastern European business, which started up in 2010, has now been sold to the Zentiva group. Zentiva plans to combine both companies’ branded generics and OTC businesses in the CEE region.
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Zentiva has announced that it is investing a further €27m in expanding its flagship manufacturing plant in Prague, having already pumped €35m into the site over the past three years.
Mergers and acquisitions have long been a tool for value creation in the generics and biosimilars space. Even with the entire life sciences sector overwhelmed by the novel coronavirus pandemic, deals big and small continued in 2020.
After a year that has seen Alvogen divest its central and eastern Europe business to Zentiva and rebrand its B2B unit as Adalvo, the group has also demonstrated the resilience of its supply chain in the face of upheaval caused by the coronavirus pandemic, chairman and CEO Robert Wessman tells Generics Bulletin in the second part of an exclusive interview.