The multinational pharmaceuticals company Alvogen acquired the Romanian drug producer Labormed from Advent International. The deal was recently finalized, though details of the transaction were not disclosed.
The American company said it wants to use Labormed to expand into Central and Eastern Europe. The Labormed factory will oversee production, research and development, sales and marketing for the entire region.
Alvogen operates in 25 countries around the world and has more than 200 pharmaceutical projects in development. Labormed is the largest independent generics company in Romania. In 2007, it invested €19m in a drug factory.
