Wessman’s Fund Aztiq Pharma Buys Up Stake In Alvogen US
$100m Financing Round Led By Morgan Stanley Fuels Deal
With “many pipeline products coming to the market in the next two years,” Alvogen’s US operation has raised fresh capital via a share issue to Aztiq Pharma, the private equity fund led by Alvogen CEO Robert Wessman.
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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.
Having previously announced plans for a public listing, biosimilars company Alvotech has raised tens of millions of dollars though a private placement of new shares, providing further firepower to develop its vast portfolio of candidates.