Zentiva Extends Commercial Footprint By Completing Acquisition of CEE Business From Alvogen
PRAGUE, April 7, 2020 /PRNewswire/ -- Zentiva Group a.s. confirms the closing of its previously declared acquisition of Alvogen's Central and Eastern European (CEE) business. The deal adds to Zentiva's continuing organic growth, reinforcing Zentiva's commercial footprint in Poland, Romania and Bulgaria, and expanding its presence into additional new markets including Russia, Ukraine, Kazakhstan, Hungary, Croatia and West Balkans. As a result, Zentiva can now deliver an expanded product portfolio to millions more people across Europe and beyond.
"With this acquisition, we bring together two of the leading branded generic and OTC businesses in the CEE region," said Nick Haggar, Chief Executive Officer of Zentiva. "Our strengths and product portfolios complement each other perfectly, in line with Zentiva's growth strategy. With our continued expansion into new markets and our winning team, we can deliver more high-quality and affordable medicines that people need every day."
Alongside the recently announced acquisition of the manufacturing site in Ankleshwar, expected to be finalized in the coming weeks, this acquisition also expands Zentiva's production capacity with the Labormed Alvogen site in Bucharest, Romania.
This latest development builds on recent commercial acquisitions of Creo in the UK and Solacium in Romania and multi-million Euro investments in Zentiva's existing production facilities in Prague and Bucharest.
"Alvogen CEE markets over 200 branded generic and OTC products across multiple therapeutic areas, consisting of highly-recognized brands like Lactacyd®, Persen®, EuBiotic® and many more with leading market positions in 14 key countries across CEE," said Hacho Hatchikian, newly appointed Head of Commercial CEE Region, Zentiva. "To join Zentiva is a great opportunity to become part of one of the leading companies in Europe, expand our footprint, and advance operational excellence, all dedicated to meeting the healthcare needs of millions of people."
About Zentiva
Zentiva is a producer of high-quality affordable medicines serving patients in Europe and beyond. With a dedicated team of more than 4,000 people and a network of production sites - including flagship sites in Prague and Bucharest - Zentiva strives to be the champion of branded and generic medicines and OTC products in Europe to better support people's daily healthcare needs.
At Zentiva it is our aspiration that healthcare should be a right and not a privilege. More than ever, people need better access to high quality affordable medicines and healthcare. We work in partnership with physicians, pharmacists, wholesalers, regulators and governments to provide the everyday solutions that we all depend on.
Learn more about Zentiva on www.zentiva.com.
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