SOFIA, Bulgaria & LONDON--(BUSINESS WIRE)--Alvogen and Theramex today announced that the two companies have entered into a binding agreement for an exclusive partnership and distribution deal for the commercialization of certain Women’s Health products in Russia, Central and Eastern Europe as well as countries within the Commonwealth of Independent States (CIS). The long-term partnership arrangement includes the rights to commercialize the Theramex portfolio of women’s health products such as Alpha D3® and Actonel® for bone health as well as certain oral contraceptive products and future Theramex pipeline products.
Countries within the distribution agreement are: Russia, Kazakhstan, Ukraine, Estonia, Latvia, Lithuania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Macedonia, Serbia and Slovenia. Whilst terms of the deal are not being disclosed, Alvogen will assume responsibility for sales, promotion and marketing of the products within the deal. The portfolio generated $13.5 million in net revenues in 2017, with significant growth potential from future pipeline products.
Hacho Hatchikian, Executive Vice President of Alvogen CEE, commented, "I am excited to partner with Theramex and announce the addition of these women's healthcare products to our specialty brand portfolio. The agreement will complement, as well as significantly strengthen, Alvogen’s existing product offering and further accelerate our growth in this important therapeutic area. With our sales and marketing network covering more than 20 CEE markets, with 450 sales representatives, we are well positioned to continue to grow in the large women’s health care market in the CEE region.”
Anish Mehta, Chief Executive Officer at Theramex, said, “This deal marks another key milestone in the execution of the new Theramex strategy. We are pleased to be entering into a long-term partnership with Alvogen. Their strong commercial and operational presence in this region means we can ensure continued supply of these important medicines, whilst at the same time simplifying and consolidating our business approach. With our dedicated focus within Women’s Health, Theramex is committed to helping women control periods, aid fertility, manage the symptoms of menopause and strengthen bone health.”
Alvogen is a global, privately owned pharmaceutical company focused on developing, manufacturing and selling generic, brand, over-the-counter brands (OTC) and biosimilar products for patients around the world. The company has commercial operations in 35 countries with 2,800 employees and operates four manufacturing and development hubs in the U.S., Romania, Korea and Taiwan.
North America is Alvogen’s single largest market and other key markets include: South Korea, Russia, Romania, Hungary, Ukraine, Taiwan, Japan and China.
Learn more about Alvogen on www.alvogen.com
Theramex is a leading, global specialty pharmaceutical company dedicated to women and their health. With a broad portfolio of innovative and established brands covering contraception, fertility, menopause and osteoporosis, we support women at every stage of their lives. Our commitment is to listen to and understand our patients, serve their needs, and offer healthcare solutions to help improve their lives. Our vision is to be a lifetime partner for women and the healthcare professionals who treat them by providing innovative, effective and safe solutions that care for and support women as they advance through each stage of their lives.
For more information, visit www.theramex.com.