Zentiva Completes Acquisition of Alvogen's CEE Operations Including Romanian Labormed

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.

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.

Labormed posted a turnover of RON144 million in 2018, down 12% on the year, according to the most recent finance ministry data.

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 in 14 key countries across CEE,” Hacho Hatchikian, newly appointed Head of Commercial CEE Region at Zentiva.

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