Alvogen acquires R&D capabilities and enters into multi-product development deal with Par Pharmaceutical

New Jersey, USA-based Alvogen Group says that it has acquired R&D capabilities from Par Pharmaceutical. .As part of the agreement, Alvogen and Par have entered into a multi-year agreement for the development of several high-value, first-to-file generic product opportunities.

The acquisition provides Alvogen with internal R&D capabilities for the development of important new generic drugs. It also enables the company to develop many additional products internally, and adds to the rapidly growing product pipeline of over 40 products. Alvogen's internal product development capabilities will mainly focus on the development of difficult to replicate generic drugs with high barriers to entry, the company says.

With a current pipeline of over 40 solid dose, controlled release and transdermal patch products for the US market, Alvogen's initial pipeline will target branded products with annual sales in excess of $17 billion. Alvogen says it has full-service Rx production capabilities in a state-of-the-art 8 billion tablet, 375,000 square feet facility with an exceptional reputation for quality, located in Norwich, NY.

Commenting on the transaction, Doug Drysdale, Chief Executive Officer of Alvogen said: 'The expansion of our internal product development to pursue high-value first-to-file opportunities builds on our strong existing pipeline of complex generic products. We have built an excellent working relationship with the team at Par and are looking forward to collaborating on these high-potential projects.'