US generics company expands into Eastern Europe
pharmafile | January 19, 2010 | News story | Sales and Marketing | Alvogen, Eastern Europe, generics
US generics company Alvogen has announced an ambitious expansion into the lucrative markets of Eastern Europe.
The company has opened an office in Bucharest, Romania. Alvogen Romania will focus on sales and marketing to support several new products scheduled for introduction during 2010. The company says it is also taking on new regulatory and pharmacovigilance expertise within the newly formed business.
The global generics sector is increasingly competitive, as healthcare systems around the world increase their dependence on cheaper off-patent medicines.
Robert Wessman, executive chairman of Alvogen, said: “We see great opportunities for our business in Eastern Europe, and the creation of Alvogen Romania is integral to our development strategy.” Wessman is the former chief executive of Actavis, one of the largest generics companies in the world.
Through registration of our own products, portfolio acquisitions and strategic partnerships, we aim to build a strong presence in the market with a targeted product offering.” Alvogen Romania will be led by Laurentiu Scheusan, an expert in the Romanian market who formerly managed local operations for rival generic company Actavis. In his role as managing director of Alvogen Romania, Scheusan will have a team of more than 60 to help break into the market and establish a base.
The Romanian pharmaceutical market generates annual sales of $3 billion and Alvogen believes the market will experience strong growth as Romanian healthcare infrastructure improves.
Alvogen’s generics portfolio covers oncology, cardiology, respiratory, Neurology and gastroenterology.
“Within the next five years we aim to be one of the leading pharmaceutical companies in Romania, based upon our reputation of high quality products and services,” said Doug Drysdale, chief executive of Alvogen. “It is our vision to set a new standard for the generic pharmaceutical business, enhance the quality of life for patients and deliver exceptional value to our customers,” said Drysdale.
The company says it has more than 130 generic products in development and registration with several new launches expected in 2010.
Related Content
Leading pharmaceutical companies sued in US for conspiring to drive up generics prices
26 pharmaceutical companies are being sued by most US states for allegedly conspiring to reduce …
Trump signs deal with generics company Phlow Corp to help shift drug manufacturing to the US
The Trump administration will sign a $354 million deal with the generics company Phlow Corp …
How the intended role of generic medicines is being undermined in America
The introduction of a generic medicine should, in theory, incentivise companies to lower the price of …
