Actavis builder aims to pump up Alvogen

Remember Robert Wessman? The Icelandic businessman, who stepped down as CEO of Actavis about a year ago, is plotting a new assault on the generics business, using the U.S.-based Alvogen Group as a platform. After building Actavis into a big-time maker of generic meds, and leaving after selling out to an Icelandic magnate, Wessman now plans to build Alvogen into a top 10 copycat company within five years, Reuters reports.

Wessman bought a 30 percent stake in Alvogen and takes over as executive chairman. The company plans to grow by making hard-to-copy drugs and by pumping up its business in emerging markets. It plans to churn out products in as few plants as possible, including one owned by Norwich Pharmaceuticals in the U.S. and another it is buying in India.

"The end goal is to build a global player which has an extra edge in the portfolio, which has an extra edge by putting effort into higher-growing markets," Wessman told Reuters, "and the key is also to have cost-efficient manufacturing."

- read the story from Reuters

Read more on