Alvogen Announces Acquisition to Expand U.S. Business

PINE BROOK, N.J.--()--Alvogen announced today that it has signed a definitive agreement to acquire County Line Pharmaceuticals ("County Line"), a specialty generic pharmaceutical company based in Wisconsin, U.S. The transaction price is not disclosed.

Founded in 2007, County Line focuses on under-appreciated generic assets and specialty generic products. It has a balanced portfolio that spans multiple dosage forms including oral solutions, creams, ointments, gels and orally disintegrating tablets with 12 marketed products in the U.S. and leading positions across all its commercial product areas. In addition, it has a well-diversified pipeline, with 9 approvals and launches expected in 2016 and 8 more approvals in 2017, supported by a strong medium-term pipeline. County Line has a proven track record of high quality and consistent supply, supported by a reliable supply chain.

The County Line transaction will further strengthen and diversify Alvogen's position in the U.S. and create new opportunities for continued growth across the country. This acquisition is expected to provide annual revenues of over $100 million per year. Closing is subject to customary regulatory conditions.

Robert Wessman, Chairman and CEO of Alvogen, commented, "This acquisition will provide Alvogen with further scale and additional reach in the U.S. and strengthens our portfolio and platform for future growth in our biggest market. County Line has an impressive track record, a highly efficient business model and an exciting pipeline of new products. This transaction underlines our commitment to introducing difficult-to-make products to the U.S. market and will further enhance our customer offering."

Jefferies was exclusive advisor and White & Case LLP acted as legal advisor to Alvogen. Leerink Partners LLC is acting as financial advisor, and Mayer Brown LLP is acting as legal advisor, to County Line.

About Alvogen

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.