Temasek Seeks Buyer For Alvogen’s Eastern European Operations
Changes are a foot in the cancer drug market.
Having bought a controlling stake in generics firm, Alvogen in 2015, Temasek alongside CVC have asked investment bank Jefferies to now find a buyer for the groups Central and Eastern European business.
Estimated to be worth around $1 billion, it is the first move the companies are making to exit from the firm known for its drugs against cancer, heart disease and liver disease.
Although it is too early to say which businesses have shown interest, a source for Alvogen was quoted as saying: “The private equity owners of these companies have said that they want to use the platforms to build strong generics players, so most of the groups which showed an interest in Zentiva and Stada are expected to raise their hands for Alvogen’s Eastern European ops,”