Change of ownership for US generics firm Alvogen
A consortium of investors led by CVC Capital Partners and including Singapore-based investment company Temasek and Vatera Healthcare Partners have acquired a controlling stake in USA-based generic drugmaker Alvogen.
The stake has been acquired from Pamplona Capital Management, which acquired its holding last year (The Pharma Letter April 1, 2014). No financial details of either deal were disclosed. However, the transaction values the generics company at around $2 billion, a source familiar with the matter, reported by Reuters, said on Monday.
Aztiq Pharma, the investment vehicle led by Robert Wessman, Alvogen‘s chief executive, will remain with a significant stake and Pamplona will also retain a small stake following the transaction. Mr Wessman will continue to serve as the company’s CEO.
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