Results Healthcare has advised UCB on the divestment of its nitrate product Russian and Ukranian rights to Alvogen

  • Service: Divestments
  • Sector: Healthcare
  • Sub Sector: Pharma & Biotech
  • Engagement Type: Sell Side
Jul 2016
has divested nitrate product Russian and Ukranian rights to
a Pamplona Capital Management-backed company

Alvogen has acquired a leading nasal spray device in Russia, sold under the Dolphin brand. The product is designed for full rinsing of the nasal cavity and helps in the prevention of flu and the alleviation of common cold symptoms.

The Dolphin brand is currently the third largest on the Russian market for nasal rinsing and has become highly popular amongst consumers due to the proven effectiveness of its products. Nasal rinsing is part of Cough and Cold, the largest over-the-counter (OTC) segment in Russia, which accounts for over 25% of the total OTC market.

Alvogen Russia has gradually been expanding its portfolio in Russia with the acquisition of Dolphin further strengthening and diversifying Alvogen’s OTC portfolio in the market. With over 30 products currently on the market, the company’s OTC portfolio consists of the following four main categories:

Anti-allergic – including key anti-histamine brand Kestine
Gastroenterology – including probiotic FlorOK
Cold & Flu – Orvirem is one of the highest selling flu medications for young children, Stopgripan hot drink, LorPro Lozanges and more
ENT (Ear, Nose and Throat) – including the recently acquired umbrella brand Dolphin
In addition to the Alvogen over-the-counter segment, the company offers a strong line in women’s healthcare with its hormone portfolio as well as in the cardiovascular field via portfolio of nitrates products acquired recently from Belgium’s UCB.

Commenting on the transaction, Alexander Vinogradov, country manager for Alvogen Russia, said:

“The acquisition of Dolphin further diversifies our local portfolio and enhances our platform for continued growth across the region. Russia remains one of the most attractive markets for our business in the CEE region.”

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