Aztiq Buys 17% Stake in Alvogen US

June 30, 2021 14:29 UTC

REYKJAVIK, Iceland--(BUSINESS WIRE)-- Aztiq Pharma Partners, a private equity fund led by Róbert Wessman, today announced that it has completed a US$100 million financing to purchase a newly issued share equity in Alvogen US. Morgan Stanley led the financing, which was subscribed by international institutional investors.

The capital was used by Aztiq to buy a 17% stake in Alvogen US, at Fora pre-money valuation of US$ 350 million.

“The new equity will allow Alvogen's generic business and its branded division Almatica Pharma to increase the R&D investment and expand branded sales channels in the US market,” said Lisa Graver, president of Alvogen's North America business.

Almatica Pharma was established by Alvogen in 2017. Almatica is focused on the development, production, and marketing of novel treatments for serious central nervous system (CNS) diseases. Almatica's mission is to meaningfully improve the lives of patients around the world, by bringing to market a portfolio of novel CNS therapeutics.

Prior to today's share issue, Alvogen US was 100% owned by Alvogen Lux Holdings. Following Aztiq Pharma Partners' acquisition of these newly issued shares, Aztiq Pharma Partners holds a combined direct and indirect, stake of approximately 40% in Alvogen US.

"Alvogen US is a very exciting investment opportunity. Many pipeline products are coming to the market in the next two years. Aztiq's vision is to increase patient access to the best medicines and to improve people's lives. With Aztiq's new investment in Alvogen US, the company can accelerate the growth of its R&D and sales & marketing platform in the US market," says Róbert Wessman.

Aztiq Pharma Partners is a long-term investment fund focused on pharmaceuticals. Its mission is to improve patients’ lives better by increasing access to affordable high-quality medicines. Aztiq’s shareholder base consists of individual investors, led by Róbert Wessman, as well as major international investment funds.

Alvogen is an international pharmaceutical company focused on the development, production, and sale of generic, brand and over-the-counter drugs worldwide. The company has operations in 20 countries and employs some 1,700 people. Alvogen operates four manufacturing and development centers in the United States, Korea and Taiwan.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210630005694/en/

Contacts

Aztiq Pharma Partners
Head of PR and Strategy
Lára Ómarsdóttir
E-mail: lara@aztiq.is

Source: Alvogen US

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