SOFIA (Bulgaria), March 26 (SeeNews) - Bulgaria's competition authority said that it has approved the planned purchase of the Central and Eastern European (CEE) business of US-based drug maker Alvogen by AI Sirona (Luxembourg) Acquisition.
The deal does not pose a risk to competition on the Bulgarian market, as the combined market share of AI Sirona (Luxembourg) Acquisition and Alvogen CEE is below the 15% threshold, the Commission for Protection of Competition (CPC) said in a statement earlier this week.
CPC's decision can be challenged by interested parties before the Sofia Administrative Court within 14 days after its publication.
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.