Robert Wessman and Alvogen Group combine to build a leading international generics company

Alvogen Group, the New Jersey, USA-based generic pharmaceutical company, has announced that Robert Wessman, former chief executive of Actavis,  an Iceland-based generic pharmaceutical companies, has become executive chairman and a major shareholder in the company.  At the same time, Ghiath Sukhtian, chairman of Alvogen, Mr Wessman and AFI Partners, a US-based private equity firm, have unveiled plans to substantially grow Alvogen globally and build the next generation international generic pharmaceutical company.

Alvogen is a generic pharmaceutical company, built on a strong foundation that includes Norwich Pharmaceuticals.  With more than 100 years in operation, the company has become a successful, full-service pharmaceutical manufacturer of prescription  and over-the counter medicines products for USA, European Union and international markets with a regulatory compliance history.  Designed to overcome the current challenges of the global generic pharmaceutical industry the company is focused on complex generic products, with a platform of first-class development and manufacturing.  With a strong commitment of capital to date, Alvogen aims to build the next-generation generics company through the strategic selection of products, partners and markets, and the utilization of a consolidated global supply chain.  The company's vision is to build a leaner and more flexible multinational operation that overcomes the challenges of the traditional generics business model.

Alvogen says it has both financial strength and advanced product development capabilities.  With a current pipeline of 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 US$17bn.  Alvogen has full-service Rx production capabilities in state-of-the-art 8bn-tablet, 375,000 square feet facilities with an exceptional reputation for quality.