Advanz has claimed a first with a European launch of a rival to Ipsen’s Somatuline, introducing its generic lanreotide in Germany under the name Mytolac.

Advanz has entered into an agreement with Eisai to acquire rights to its Zonegran zonisamide brand in Europe, the Middle East, Russia and Australia. Advanz said the move was “in keeping with our strategic growth plans” after the company was recently acquired by Nordic Capital in an $846m deal. 

Nordic Capital has completed its takeover of Advanz Pharma, three years after the company’s transformation from its former identity of Concordia. The company is planning “considerable investment” following the deal.

Three years after rebranding from Concordia, Advanz Pharma is to be swallowed up by European-focused private equity Nordic Capital.