Ljubljana, 06 September (STA) - Two famous brands of over-the-counter drugs manufactured by Slovenian drug maker Lek, Persen and Neopersen, have been sold to Alvogen, a US pharma company, for an undisclosed price, the Slovenian company confirmed on Thursday.
The decision was made by Sandoz, the generics division of Lek's parent company Novartis, after a strategic overview of the product portfolio, Lek told the STA.
"At the end of May and in early June we notified wholesellers of medicines and pharmacies that we have ceased the sales and marketing activities," the company said.
The two drugs are mild herbal sedatives that are widely used as sleeping pills in Slovenia. They will henceforth be available via Alvogen's Slovenian partner Apta Medica.
Based out of New Jersey, Alvogen was founded in 2009 and posted sales of EUR 1.1bn last year.
The move is part of a much broader product restructuring at Novartis, which is reportedly refocusing to segments with higher growth potential.
Just today the company announced it would sell the dermatology and generic US oral solids portfolios Aurobindo Pharma, an Indian drug maker, for US$ 900m.