Anti-Competition Authorities Investigating ‘AI Sorina’ Acquisition

 Bulgaria’s competition authority said on Wednesday that it has opened proceedings in relation to the planned purchase of the Central and Eastern European (CEE) business of US-based drug maker Alvogen by AI Sirona (Luxembourg) Acquisition.

Interested parties have until January 15 to submit their statements regarding the transaction, the Commission for Protection of Competition said in a notice.

AI Sirona (Luxembourg) Acquisition, a unit of US-based private equity firm Advent International, is the owner of Czech Republic-based AI Sirona Bidco, which on December 31 absorbed Czech pharmaceutical company Zentiva Group.

AI Sirona Bidco acquired Zentiva Group in September 2018 from a unit of Sanofi Aventis Europe.

In CEE, Alvogen employs over 1,000 people, marketing more than 200 generic and over-the-counter products across multiple therapeutic areas, including the Lactacyd, Persen, and EuBiotic brands. Alvogen’s brands hold leading market positions in 14 markets across CEE, including Romania, Bulgaria, Hungary, Poland, Russia and the Balkan markets.

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