Advanz Seeks To Build On European Platform
Correvio And UCB Deals Position Firm For Future Growth
Advanz Pharma recently struck two major deals that have expanded its presence in Europe and bolstered its portfolio. In an exclusive interview with Generics Bulletin, CEO Graeme Duncan explains how the firm plans to build on these moves to make the most of its enhanced platform.
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Stada’s head of Europe, Steffen Wagner, is set to become the new CEO of Advanz early next year, while current CEO Graeme Duncan will step down and take a new role as special advisor to the board. Advanz is also appointing a new chief financial officer, with Merck Healthcare’s Andreas Stickler set to succeed Adeel Ahmad in January.
Advanz has entered into an agreement with Eisai to acquire rights to its Zonegran zonisamide brand in Europe, the Middle East, Russia and Australia. Advanz said the move was “in keeping with our strategic growth plans” after the company was recently acquired by Nordic Capital in an $846m deal.
Nordic Capital has completed its takeover of Advanz Pharma, three years after the company’s transformation from its former identity of Concordia. The company is planning “considerable investment” following the deal.