Alvogen to buy Pfizer Drugs for US Market
US pharma company Alvogen has agreed to buy four of Pfizer’s products in the USA. The sale is part of Pfizer’s condition in closing its $17 billion acquisition of Hospira.
The assets include three injectables and one inhalation solution. Clindamycin injection and Acetylcysteine inhalation solution are on-market products: the latter will continue to be marketed by Fresenius with Alvogen receiving profit-sharing payments.
The other two products are pending abbreviated new drug applications (ANDAs), namely Voriconazole and Melphalan injectables. Alvogen said both are expected to launch as early as 2016.
Robert Wessman, chairman and CEO of Alvogen, commented: “This acquisition supports our strategy to gain exposure to the high growth, injectable segment in the US market. These products will complement as well as significantly strengthen our existing portfolio, further enhancing our customer offering. We will be able to leverage our current sales and marketing network to increase market share in the US. Moreover, this important strategic development takes Alvogen closer towards its stated ambition to become one of the leading global players.”
Aloven said it has more than 60 pipeline ANDAs of which 28 have first-to-file or first-to-market potential.
