Prague-primarily based Zentiva group, which entered the Romanian market in 2005 via taking over the largest nearby regular drug producer Sicomed, will even take over local pharmaceutical producer Labormed underneath a regional deal.
The Zentiva institution introduced the signing of a binding agreement for the purchase of the operations in primary and eastern Europe of pharmaceutical group Alvogen, for a quantity that has no longer been disclosed.
“This acquisition suits perfectly with the Zentiva version and contributes to the success of our approach. Zentiva will reinforce its essential role in relevant and Europe because it expands into new markets and could considerably growth its OTC competences and portfolio of drugs. We sit up for welcoming the over 1,000 new colleagues from the ECE Alvogen group to the Zentiva network. Collectively they are able to be more potent as we preserve to contribute to our venture of providing high nice medicines at affordable prices to sufferers in Europe and beyond," said Zentiva organization CEO Nick Haggar.
In February 2008, investment fund Advent received Labormed for 123 million Euros, from a collection of Romanian doctors and pharmacists who installation the employer in 1991, and in May 2007 opened a manufacturing unit in Bucharest, via a Greenfield funding of 13 million Euros. American pharmaceutical institution Alvogen took over Labormed from creation in December 2012. Creation, which holds a controlling stake in Zentiva, now returns as an indirect shareholder in Labormed.
Tags : Zentiva , Romanian market, Zentiva institution , ,