Global law firm White & Case LLP has advised Alvogen on the sale of its business in Central & Eastern Europe (CEE) to Zentiva for an undisclosed value.
"White & Case has advised Alvogen on a strategically significant transaction which supports its focus on key priorities in high growth and high potential business units," said White & Case partner Steve Worthington, who led the Firm's deal team. "The deal also adds to our impressive track record in the pharmaceutical and healthcare sector."
White & Case partner Lucy Bullock said: "We've built a strong and highly valued relationship with Alvogen over a number of years since the investment in 2015 by a consortium led by CVC Capital Partners. Our team has advised on a wide variety of matters including its capital structure, debt and acquisitions, and we look forward to continuing to advise Alvogen on its strategically important transactions."
The divested CEE platform includes more than 200 generic and over-the-counter (OTC) products across multiple therapeutic areas which cover 14 key regional markets.
Alvogen is a global, privately-owned pharmaceutical company focused on developing, manufacturing and selling generic, brand, OTC medicines and biosimilar products for patients around the world. It has commercial operations across Asia-Pacific and the US and R&D centers in the US, South Korea, and Taiwan.
Zentiva employs more than 3,000 people and produces affordable medicines serving patients in Europe and beyond from a network of production sites, including flagship sites in Prague and Bucharest.
The White & Case team which advised on the transaction was led by partner Steve Worthington (Abu Dhabi & London) and included partners Lucy Bullock, Lindsey Canning, Marc Israel and Martin Forbes (all London), and associates James Turner, Jean Renaldy, Michael Hekimian and Ben Morrison (all London).
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