Pine Brook, New Jersey, 6 October 2015 – Alvogen, today announced that it has acquired five hormonal branded products from Bayer Pharma AG in Russia and CIS.
The products acquired are Klimonorm (Hormone replacement therapy), Progynova (Hormone replacement therapy), Triquilar ( Female contraception) and Microgynon (Female contraception) and Climene (Hormone replacement therapy).
The acquisition of these well-established branded products further strengthens and diversifies Alvogen's branded portfolio in Central Eastern Europe particularly in such a lucrative segment as Women Healthcare. Alvogen has built a solid growth platform across the region, with a presence in 11 markets including Russia and CIS, Romania, Hungary, Bulgaria, Ukraine and the West Balkans. This presence is supported by Alvogen's strong manufacturing facilities in Romania and a packaging center in Serbia, serving the entire region.
Commenting on the transaction, Petar Vazharov, EVP of Sales in the CEE Region, said:
"The acquisition of these products further strengthens our local portfolio and enhances our platform for continued growth across the region. CEE remains one of the most attractive regions for our business, representing over 20% of Alvogen's revenues, and we continue to build our offer in this market to catalyze growth."
Alvogen today has a commercial presence in 35 countries, with 200 projects in development, and is committed to becoming a leading global generic pharmaceuticals player. Its three key operating regions are North America, Asia Pacific and CEE.
Alvogen is a global, privately owned pharmaceutical company focused on developing, manufacturing and selling generic, brand, over-the-counter brands (OTC) and biosimilar products for patients around the world.
The company has commercial operations in 35 countries with 2,300 employees and operates four manufacturing and development hubs in the US, Romania, Korea and Taiwan. North America is Alvogen's single largest market and other key markets include: South Korea, West Balkan, Poland, Romania, Bulgaria, Hungary, Taiwan, Thailand, Ukraine, Russia, Japan and China.