Alvogen acquires Dream Pharma $187 million n South Korea

Alvogen acquires Dream Pharma for $187 million

11:58 AM, 6th August 2014
Alvogen acquires Dream Pharma for $187 million

NEW JERSEY, US: Alvogen has acquired Dream Pharma in South Korea for $187 million in cash. Dream will be acquired through Alvogen’s Asian subsidiaries and, on completion, will create one of the largest generic pharmaceutical companies in South Korea. The transaction represents a significant milestone in Alvogen’s stated ambition to become one of the top five regional players in the APAC market. The transaction is subject to regulatory approval and closing is expected in the fourth quarter 2014.

The acquisition of Dream will significantly strengthen Alvogen’s existing business in South Korea, adding a complementary portfolio of over 100 products. Dream currently has an impressive 35 per cent market share in obesity products in Korea, with no overlap with Kunwha’s current portfolio in the market. The consolidated business creates a strong platform for exports and a basis upon which to introduce the Korean portfolio into other APAC markets.

“I am delighted to announce this transaction. Dream is an excellent business and we are looking forward to collaborating with their high-calibre team as we work to fuel regional growth and to gain scale in the Korean market and a broader product offering. Alvogen’s business continues to grow from strength to strength in APAC and our commitment to the region is yielding clear results. This transaction further underlines our ability to act as a powerful industry consolidator and demonstrates the momentum we are building towards becoming one of the top five players in the APAC market,” said Robert Wessman, President and CEO, Alvogen.

 

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Linde to build hydrogen fueling stations in California

MURRAY HILL/NEW PROVIDENCE/NEW JERSEY, US: The California Energy Commission (CEC) awarded $4.3 million to Linde North America to construct retail hydr ...

Read more
Aspirin reduces risk of cancer, finds new study

LONDON, UK: According to a large review of scientific studies, taking a small daily dose of aspirin can significantly reduce the risk of developing - ...

Read more
Shell starts oil production in Nigeria

ABUJA, NIGERIA: Shell Nigeria Exploration and Production Company Ltd (SNEPCo), Shell’s deep-water subsidiary in Nigeria, started oil production ...

Read more
Mexichem to acquire PVC producer, VESTOLIT

TLALNEPANTLA, ESTADO DE MEXICO: Mexichem, has signed a definitive agreement to acquire VESTOLIT GmbHH, the 6th largest producer of polyvinyl chloride ...

Read more
Hiroshima nuclear attack hits 69th anniversary

HIROSHIMA, JAPAN: Today, 6 August 2014, marks the 69th anniversary of nuclear attack on Hiroshima. An American B-29 bomber named Enola Gay dropped an ...

Read more
RusVinyl starts trial batch production of polyvinyl chloride

KSTOVO, RUSSIA: RusVinyl has started up scheduled trial batch of polyvinyl chloride (PVC). Several days earlier RusVinyl obtained the trial batch of c ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X