Managing risk

Zentiva, a pan-European pharmaceutical company, acquired the CEE business of Alvogen, a global generic and over-the-counter (OTC) drug manufacturer in October 2019. The Alvogen deal is one of the headline transactions in CEE in 2019 and brings together two regional leaders in generics and OTC pharmaceuticals.

A cross-border CMS team advised Zentiva on the transaction. The team was led by Helen Rodwell, Managing Partner of CMS in Prague. She was supported by colleagues from Bulgaria, the Czech Republic, Hungary, the Netherlands, Poland, Romania, Russia and UK. 

“By acquiring the Alvogen portfolio, Zentiva has cemented its position as a true generic pharmaceutical leader in the region. The combined brands have a strong name and long history across the markets in the region,” said Helen Rodwell.

Zentiva, which has flagship sites in Prague and Bucharest, is a portfolio company of Advent International. CMS had previously assisted Advent with its EUR 1.9bn acquisition of Zentiva from Sanofi in 2018. 

Alvogen’s business in CEE covers 14 jurisdictions in the region, including Balkan markets, Bulgaria, Hungary, Poland, Romania and Russia. Its brands include Lactacyd, Persen and EuBiotic.