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Alvogen Announces Acquisition to Expand Russian BusinessAlvogen announced today that it has signed a definitive agreement to acquire Omega Bittner, a Russia-based pharmaceutical firm owned by Perrigo Company plc. Working with well-established and recognized brands in Russia including LactacydTM, AflubinTM and ParanitTM, the firm focuses on a targeted portfolio of over-the-counter drugs in categories such as women's healthcare and cough & cold. Hacho Hatchikian, Executive Vice President of Alvogen CEE, commented: "This acquisition supports our strategy to gain more exposure to Russia's high growth market. It will create greater scale and diversity across our portfolio and sales channels, while increasing market share in women's healthcare and cough & cld. "I would like to welcome Omega Bittner's talented and dedicated workforce to the Alvogen family and look forward to their contributions, as we strive to provide patients in the region with highest quality products and services." These products will complement, as well as significantly strengthen, Alvogen's existing portfolio in the region. The transaction is expected to close by the end of Q3 2017, subject to customary approvals. 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 2,800 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, Taiwan, Russia, West Balkan, Poland, Romania, Bulgaria, Hungary, Thailand, Ukraine, Japan and China. View source version on businesswire.com: http://www.businesswire.com/news/home/20170815005108/en/ |
