- June 30, 2021
- Posted by: Stratford Team
- Category: Business
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…