Aztiq, a prominent healthcare investor led by Founder and Chairman Róbert Wessman, has finalized an agreement in Q1 2024 with Innobic (Asia) Company Limited (“Innobic”), the life science arm of Thailand’s largest conglomerate, PTT Public Company Limited, to acquire full ownership of Alvogen Malta (Out-Licensing) Holding Ltd., the parent company of Adalvo. Previously, Adalvo was under the ownership of Alvogen Emerging Market Holdings Limited, which is still jointly held by Aztiq and Innobic. This strategic move marks a significant milestone in Adalvo's journey as a rapidly expanding global business-to-business (B2B) pharmaceutical company. Aligned with the aim of fostering accelerated growth, Metric Capital Partners, a distinguished pan-European private capital fund, has made an investment in Adalvo, underscoring the investment fund’s confidence in Adalvo's promising growth trajectory.
Established in 2018, Adalvo has emerged as one of the fastest-growing leading B2B pharmaceutical companies worldwide, with an impressive track record of over 700 transactions and a robust portfolio comprising more than 120 differentiated medicines. Adalvo’s operations span across 140 markets, catering to partners and patients alike. Adalvo achieved ~60% CAGR EBITDA growth over the years and is already commercializing its portfolio in over 80 markets.
Róbert Wessman, Founder of Aztiq expressed his enthusiasm regarding the acquisition, stating, "We are delighted to have acquired full ownership of Adalvo. As the founder of this Company, I firmly believe in its potential for continuous growth. With a solid foothold in the B2B landscape and an outstanding performance track record, Adalvo is positioned for remarkable expansion."
Anil Okay, CEO of Adalvo, commented on the new ownership structure emphasizing its significance in enhancing Adalvo's competitive edge. He remarked, "This transaction, coupled with the strategic partnership with Metric Capital, equips Adalvo with a compelling advantage, enabling us to capitalize on new opportunities and fuel substantial growth and expansion. It reinforces Adalvo's trajectory towards establishing itself as a global leader in the B2B pharmaceutical segment."
John Sinik, Managing Partner of Metric Capital Partners, said: “We are delighted to be partnering with Aztiq on this transaction. We believe that the investment in Adalvo demonstrates Metric’s unique capability in creative capital solutions in the European market.“
Bjorn Tessiore, Partner at Metric Capital Partners, added: "We are thrilled to partner with Aztiq and Adalvo as they continue to lead innovation in the generic pharmaceutical sector. We are highly impressed by the exceptional quality of the company and its team, and we are excited to play a role in its future growth." The investment in Adalvo represents Metric Capital’s fourth investment in the pharmaceutical industry in the last four years, with previous investments in Noden Pharma, Sanovel and Famar.
About Adalvo
Adalvo is a global pharmaceutical company and one of the leading B2B pharmaceutical companies in Europe, with commercial partnerships in more than 130 countries and over 140 commercial partners globally. The company’s declared purpose is to make a difference for patients all over the world, driven by its smart collaboration network and commitment to delivering the highest quality differentiated products and services. Adalvo’s brand promise is to be “Always on Target” for its partners and patients.
Always on Target (www.adalvo.com)
About Aztiq
Aztiq is a long-term healthcare investor led by Alvogen’s and Alvotech’s Founder and Chairman Róbert Wessman. Aztiq, whose key investment focus is on pharmaceutical assets, is currently a leading and co-leading shareholder and operator of the following pharmaceutical assets:
Lotus – A leading global oncology pharmaceutical company (www.lotuspharm.com)
Adalvo – Global B2B pharmaceutical company, serving its partners and patients in over 100 markets worldwide (www.adalvo.com)
Alvotech – A global biosimilar company (www.alvotech.com)
Alvogen US / Almatica – US generics (Gx) and Specialty Pharmaceutical company. (www.alvogenus.com / www.almatica.com)
Established in 2009, Aztiq was founded on the principle that everyone should have the right to medicine, regardless of their financial means.
Róbert Wessman, has led over 50 strategic acquisitions and partnerships and established operations in over 60 countries. Wessman, alongside his seasoned team in Aztiq, continues to successfully launch and scale both industry-leading generic pharmaceutical and biosimilar companies all over the world.
About Metric Capital Partners
Metric Capital Partners is a pan-European private capital fund manager. The firm has raised in excess of EUR 3.0 billion of capital from its global investor base and operates out of six European offices. Since its inception in 2011, Metric has completed 46 investments across a variety of geographies and industries. www.metric-capital.com