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CVC Capital Partners leads investment consortium to acquire controlling stake in Alvogen

A consortium of investors led by CVC Capital Partners (CVC), including Singapore-based investment company Temasek and Vatera Healthcare Partners, has acquired a controlling stake in Alvogen, the high growth pharmaceutical company. 

The stake has been acquired from Pamplona Capital Management. 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. Robert Wessman will continue to serve as the company’s CEO.
 
Alvogen has delivered six consecutive years of strong revenue and profit growth, expanding from its original base in North America to commercial operations in 35 countries around the globe. Today the company has regional hubs in North America, Eastern Europe and Asia Pacific. North America is its largest market with over 60 pipeline ANDA filings. The Group currently has over 200 strategically selected pharmaceutical projects in development and registrations and 350 marketed products.
 
Robert Wessman, CEO of Alvogen, says: “Alvogen has established itself as one of the fastest growing generic pharmaceutical companies in the industry, delivering double digit revenue and profit growth annually since 2009. The Group has transformed from being a domestic US business to a global player." 
 
“I am delighted to welcome such a prestigious consortium of new investors on board. Collectively they will provide significant experience and additional resources to help accelerate our strong momentum and take Alvogen towards its ambition of being one of the leading generics players in the world today. I would also like to thank Pamplona for its partnership over the last year. “ 
 
Tomas Ekman, Partner, CVC, says: “Together with our co-investors, we are delighted to be working with Robert and his team to continue Alvogen’s extraordinary expansion. Robert has proven himself a visionary leader and we look forward to bringing our own network and operational expertise to support the team in creating the pharmaceutical company of tomorrow.”
 
Jeremy Gelber, Partner, Pamplona, says: “We are very pleased with the progress that Alvogen has made and believe the business, under Robert’s leadership, is well poised for future growth.   CVC, Temasek and Vatera bring strong global resources and deep knowledge of the pharmaceutical space which will help continue Alvogen’s development as a leader in the global generics industry.” 
 

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