Generic pushinto CEE
Prague - The French pharma giant Sanofi-Aventis S.A. strengthened its generics business in Central and Eastern Europe (CEE) with a participation in the Czech generics producer Zentiva a.s. According to Sanofi-Aventis, the company has acquired a 25% share in Zentiva for a total of Euro430 million from the private equity holding Warburg Pincus as well as from several Zentiva managers and employees. The move turns Sanofi-Aventis into Zentiva's biggest shareholder. Even though there are no current plans for a further increase of the participation, Sanofi-Aventis holds options to acquire further shares from the management.
Presently, Zentiva is active in Romania, the Czech Republic and Slovakia, and is developing rapidly in Poland, Russia and the Baltic states. Last year the group's 4,200 employees generated a turnover of Euro410 million with net revenues at Euro65 million. Zentiva specialises in cardio-vascular, CNS as well as gastro-intestinal diseases.