Healthcare Industry News: melphalan
News Release - August 26, 2015
Alvogen to Acquire Product Portfolio from Pfizer for the U.S. Market
PINE BROOK, N.J.--(Healthcare Sales & Marketing Network)--Alvogen has entered into a definitive agreement with Pfizer Inc. (PFE), under which it will acquire a portfolio of four pharmaceutical products, in the U.S.Robert Wessman, Chairman and CEO of Alvogen, commented, “This acquisition supports our strategy to gain exposure to the high growth, injectable segment in the U.S. market. These products will complement as well as significantly strengthen our existing portfolio, further enhancing our customer offering. We will be able to leverage our current sales and marketing network to increase market share in the U.S. Moreover, this important strategic development takes Alvogen closer towards its stated ambition to become one of the leading global players.”
The assets being acquired include an attractive portfolio of three injectable products and one inhaled solution product. Two are on-market products, Clindamycin injection and Acetylcysteine inhalation solution. Acetylcysteine will continue to be marketed by Fresenius with Alvogen receiving profit sharing payments. In addition, Alvogen will acquire two pending ANDA’s, Voriconazole injection and melphalan injection. Both pending applications represent generic market with limited participation and are expected to launch as early as 2016.
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.
Source: Alvogen
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