International law firm CMS has advised global private equity firm Advent International and its portfolio company, Zentiva, on its acquisition of the CEE business of global generic and over-the-counter (OTC) pharmaceuticals manufacturer Alvogen. The transaction is expected to close in the first quarter of 2020, subject to customary approvals.
This transaction brings together two leading branded generics and over-the-counter (OTC) businesses in the CEE region, with complementary strengths, product portfolios, geographical footprints and cultures.
Zentiva now extends its geographical footprint with Alvogen’s portfolio. Alvogen CEE markets over 200 generic and OTC products across multiple therapeutic areas, with leading market positions in over 14 key CEE jurisdictions, including Russia, Romania, Bulgaria, Poland and Balkan markets. The transaction is the latest in a series of acquisitions for Zentiva and forms part of its strategic development and growth strategy.
The CMS team was led by CEE Corporate Head Helen Rodwell, with support from Frances Gerrard, Markéta Franková, Pavel Dřímal, Tristan O’Connor and Moritz Kopka (Prague); Atanas Bangachev (Sofia); Horea Popescu and Claudia Popescu (Bucharest); Aniko Kircsi and Peter Toth (Budapest); Rafal Zwierz and Gregorz Paczek (Warsaw) and David Cranfield and Maxim Gubanov (Moscow) with John Markham and Madeeha Anthony (London) advising on competition law aspects (London), as well as an extended team of more than 80 lawyers based across the Czech Republic, Romania, Bulgaria, Hungary, Poland, Russia, UK, Netherlands and the Balkans.
Helen Rodwell said: “We are proud to have been involved in this latest strategic transaction for Zentiva. This was a great example of the CMS team working at its best: on a multi-jurisdictional and sector-focused transaction, utilising an integrated team across our strong platform.”