Alvogen buys four-drug portfolio from Pfizer
pharmafile | August 27, 2015 | News story | Sales and Marketing | Alvogen, Pfizer
Alvogen has entered into a agreement with Pfizer to purchase a portfolio of four pharmaceutical products for the US market, which Pfizer is obliged to divest as a condition of its imminent acquisition of Hospira.
US-based Alvogen said the transaction would strengthen and strengthen its commercial platform in the US and lead to continued growth across the region
The company already has over 60 pipeline Abbreviated New Drug Application’s (ANDA’s) in the US, of which 28 have first-to-file or first-to-market potential.
The assets being acquired include three injectable products and one inhaled solution product. Two- Clindamycin injection and Acetylcysteine inhalation solution- are on-market products.
Acetylcysteine will continue to be marketed by Fresenius with Alvogen receiving profit sharing payments. In addition, Alvogen will acquire two pending ANDAs: Voriconazole injection and Melphalan injection.
Both pending applications represent generic market with limited participation and are expected to launch as early as 2016.
Robert Wessman, chairman and CEO of Alvogen, comments: “This acquisition supports our strategy to gain exposure to the high-growth, injectable segment in the US 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.”
Pfizer’s deal to acquire Hospira was granted US Federal Trade Commission approval this week and is expected to close in September.
Joel Levy
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