Zentiva Acquires Central and Eastern European Business of Alvogen

Zentiva to further expand its geographical footprint and
complement its portfolio in Generics and OTC

Prague, Czech Republic and Sofia, Bulgaria (ots/PRNewswire) -
Zentiva announces the signing of a definitive agreement to acquire
the Central and Eastern European Business of Alvogen, for an
undisclosed amount.

Alvogen CEE markets over 200 generic and over-the-counter products
across multiple therapeutic areas, consisting of highly recognized
brands like Lactacyd, Persen, EuBiotic and many more with leading
market positions in 14 key markets across CEE including; Russia,
Romania, Bulgaria, Hungary, Poland and Balkan markets.

Nick Haggar, Chief Executive Officer of Zentiva remarked "This
acquisition is a perfect fit for Zentiva and supports the execution
of our strategy. Zentiva will strengthen its leadership in Central
and Eastern Europe while expanding into new markets and significantly
increase its specialty and OTC medicines portfolio. We look forward
to welcoming more than 1,000 people from the Alvogen CEE team into
our Zentiva community. Together, we will be even stronger as we
continue working on our primary mission of providing high-quality and
affordable medicines to people in Europe and beyond."

This transaction brings together two leading branded generics and
OTC businesses in the CEE region, with complementary strengths,
product portfolios, geographical footprints and cultures. The
transaction is expected to close in the first quarter of 2020,
subject to customary approvals.

"With the divestiture of the European business, we will be
focusing our strategic development, growth and expansion in other
areas. Through acquisitions and strong partnerships in the Asian
region and continued investment in biosimilars through our sister
company Alvotech, we can continue to grow and set the standards on a
global platform. We thank our colleagues for their extraordinary
efforts in building one of the most successful regional companies in
our industry and we look forward to following the continued success
of the combined business", said Robert Wessman, Chairman & CEO of
Alvogen.

Earlier in 2019, Zentiva integrated the teams of Creo Pharma in
the UK and Solacium Pharma in Romania into the Zentiva group. In
September, Zentiva also announced acquisition of a manufacturing site
in Ankleshwar in India. In addition to multi-million Euro investments
in existing manufacturing facilities in Prague and Bucharest, Zentiva
continues to maximize its competitive advantage, expanding market
footprint and upgrading its manufacturing network and capabilities.

About Zentiva

Zentiva is a producer of high-quality affordable medicines serving
patients in Europe and beyond. With a dedicated team of more than
3,000 people and a network of production sites - including flagship
sites in Prague and Bucharest - Zentiva strives to be the champion of
branded and generic medicines in Europe to better support people's
daily healthcare needs.

At Zentiva it is our aspiration that healthcare should be a right
and not a privilege. More than ever, people need better access to
high quality affordable medicines and healthcare. We work in
partnership with physicians, pharmacists, wholesalers, regulators and
governments to provide the everyday solutions that we all depend on.

Learn more about Zentiva on www.zentiva.com.

About Alvogen

Alvogen is a global, privately owned pharmaceutical company
focused on developing, manufacturing and selling generic, brand,
over-the-counter medicines (OTC) and biosimilar products for patients
around the world. The company has commercial operations in 35
countries with 2,800 employees and operates four manufacturing and
development hubs in the U.S., Romania, Korea and Taiwan. North
America is Alvogen's single largest market and other key markets
include: South Korea, Russia, Taiwan, Romania, Hungary, Ukraine,
Japan and China.

Learn more about Alvogen on www.alvogen.com

Media Contacts

Ines Windisch
Head of Corporate Affairs & HR
Tel: (+420)601-341-444
Email: ines.windisch@zentiva.com

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obert_Wessman.jpg

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ots Originaltext: Zentiva
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