AbelaPharm Swiss has successfully signed a purchase agreement, acquiring Alvogen’s factory in Serbia.
Alvogen is a global pharmaceutical company specialized in the development and production of medicines, biosimilars and OTC goods. Due to Alvogen’s extensive as well as impressive portfolio and outreach – AbelaPharm saw an opportunity for further expansion.
The successful acquisition of this facility will enable AbelaPharm to produce 20 million pharmaceutical goods annually due to the factory’s state of the art equipment – complying with GMP standards.
Predrag Moskovljevic, CEO of AbelaPharm Swiss said: “The acquisition is a strategic move enabling AbelaPharm Swiss to consolidate its presence in the European pharmaceutical market.
We built a strong regional company. The way to do this is to work a lot, understand the needs of consumers and offer them innovative solutions.
Taking over the third factory is a significant step to the achievement of our goals.
It enables the specialization of the existing plants and strong development of our portfolio with increasing market share in the fields of gastroenterology, cardiology, pulmonology, and rheumatology.
Only the highest quality products can be delivered under the name AbelaPharm Swiss. Therefore, we keep on investing in development of our resources, knowledge and skills, while looking for the best solutions to improve the health and quality of life of our families and all other users of AbelaPharm Swiss products.”
Jelena Nikolic, Director of Alvogen for Serbia and Regional Manager for the Western Balkans said: “We are pleased to announce that we have signed the agreement with AbelaPharm Swiss producer for the sale of the packaging plant in Serbia.
The packaging plant was an important production site for Alvogen in our earlier growth stage.
While developing our business in Serbia, the region of Central and Eastern Europe, and globally as well, the capacities of the plants in Serbia were not sufficient.
A decision was made to relocate the production primarily to our large Labormed factory in Romania, and also to our factories in the USA and Asia. We are pleased to note that we have signed a purchase agreement with a serious buyer such as AbelaPharm Swiss. We want the new owner a lot of success in its new business venture.”
AbelaPharm Swiss intends to upgrade the facility further, integrating more equipment in order to achieve the company’s set objectives – over the nest few months.
The firm’s plans for expansion include investment in both the facility as well as appropriate training programs for new and existing staff members, in order to ensure the highest levels of efficiency.
The company’s vision for 2021 is set to become one of the lead exporters across the European Union, Middle East and Africa. More than 70% of products bearing the AbelaPharm trademark are to be exported to said regions.