Finance M&A
20:39 7 April 2020
Post by: WBJ

Zentiva increases its market reach by acquiring Alvogen CEE business

Zentiva increases its market reach by acquiring Alvogen CEE business
Robert Łukawski, source: Zentiva Polska

Zentiva Group announced the successful completion of the previously announced acquisition of Alvogen in Central and Eastern Europe (CEE). Thanks to the transaction, Zentiva can continue to grow organically and strengthen its market position in Poland, Romania and Bulgaria, as well as enter new markets such as Russia, Ukraine, Kazakhstan, Hungary, Croatia and the Western Balkans. As a result, the company will be able to offer a richer range of medicines to millions of people in Europe and beyond.

“Acquisition means joining two leaders of the generic and OTC drugs industry in the region of Central and Eastern Europe,” Nick Haggar, president of Zentiva, commented.

"Another exciting chapter of activity in Poland is opening before Zentiva, which will accelerate our growth. Our company will strengthen its position on the domestic pharmaceutical market, gaining a unique portfolio of branded generic and OTC drugs, supplemented by a comprehensive offer of new products. Expanding our range and strengthening cooperation with our partners, we focus our efforts on the health needs of Polish patients in mind, "Robert Łukawski, general director of Zentiva Polska, said.

Along with the recently announced acquisition of Ankleshwar production facilities, which should be finalized in the coming weeks, the acquisition of Labormend Alvogen plants in Bucharest (Romania) as part of this transaction will increase Zentiva's production capacity.

The company's recent activities are aimed at expanding its reach, just like the previous acquisition of Creo in the UK and Solacium in Romania, as well as investments in existing Zentivy production plants in Prague and Bucharest at the level of several million euros.

(WBJ)

cee
zentiva
alvogen
robert łukawski
nick haggar

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