Alvogen Acquires Today Sponge(R) Assets

Initial Acquisition Reflects Specialty Generics Company's Focus on
Filling Niche Between Branded Pharmaceuticals and Commoditized
Generics
NEW YORK--(Business Wire)--
Alvogen, Inc., a Specialty Generics company seeking to establish a
leadership position in an emerging "third" category of drugs beside
branded pharmaceuticals and commoditized generics, today announced its
initial product acquisition, the Today Sponge(R). Utilizing a unique
and challenging manufacturing process that has been significantly
enhanced by Alvogen affiliate, Norwich Pharmaceuticals Inc., the Today
Sponge(R) provides a safe and effective non-hormonal birth control
alternative for millions of American women.

"This acquisition aligns with our singular focus of acquiring,
developing, manufacturing and marketing our pipeline of high value
products," said Douglas L. Drysdale, chief executive officer of
Alvogen. "We are building this pipeline around the generation a robust
product portfolio of complex generic drugs with significant barriers
to entry."

In addition to utilizing the established manufacturing expertise
and renowned quality reputation of Norwich Pharmaceuticals Inc.,
Alvogen is also leveraging the extensive product portfolios and
development pipelines of its multiple affiliates in the Middle East,
North Africa and Europe.

Today Sponge(R) is constructed of soft polyurethane foam
containing a well known, locally-acting, non-systemic spermicide, N-9.
The innovative manufacturing process involves both sponge creation and
active ingredient introduction in a continuous-process production
environment.

Originally introduced in 1983 and later acquired by Wyeth, the
Today(R) Sponge affords the freedom and flexibility of 24-hour
protection, and is safe and convenient to use. While on the market, it
was the most popular over-the-counter birth control method for women,
and market interest in the product has never waned.

Alvogen is currently engaged in a selection process for marketing
partners that will enhance sales of the Today Sponge(R) in the U.S.
and internationally. Approvals for sale have been established in the
U. S., Canada, UK and other countries, with significant potential for
introductions in Latin America and Asia.

About Alvogen, Inc.

Alvogen is a specialty generics company focused on developing,
producing and marketing complex, high value generic drugs; providing
access to such medications; and improving the quality of life for
millions of Americans. In seeking to establish a leadership position
in an emerging "third" category of drugs beside branded
pharmaceuticals and commoditized generics, Alvogen has successfully
attracted additional investment from its leading equity partner, New
York City based AFI Partners. Funds are being applied to building both
an expanded and strengthened management team, as well as manufacturing
capacity at its Norwich, NY facilities.

About Doug Drysdale

Alvogen's CEO Doug Drysdale has nearly 20 years of experience in
the healthcare industry. Most recently he served as corporate vice
president, mergers & acquisitions and member of the executive board
for Actavis Group, one of the world's leading players in the generics
marketplace. Prior to joining Actavis, Drysdale held positions at
Alpharma, Inc. as vice president, global business development, Forest
Laboratories, Inc. and Alkensa, Inc., a CNS development company that
he co-founded.

About Norwich Pharmaceuticals, Inc.

Affiliated with Alvogen, Norwich Pharmaceuticals Inc. is a
contract manufacturer and packager based in Norwich, NY, providing
comprehensive support-from clinical trial manufacturing through
scale-up to commercial launch-to the pharmaceutical industry. The
company brings over 100 years of experience to the production,
packaging and distribution of solid dose, semi-solid and liquid
pharmaceuticals.

For media-related inquiries, please contact:
Global Prairie
John Cregan, 216-525-1921
john.cregan@global-prairie.com
or
For business-related inquiries regarding Alvogen,
please contact:
Alvogen, Inc.
Doug Drysdale
President & Chief Executive Officer
Suite 2000
1200 Route 22 East
Bridgewater, NJ 08807
Tel: +1-908-764-8385
E-mail: doug.drysdale@alvogen.com
Website: www.alvogen.com
or
For more information regarding Norwich Pharmaceuticals
manufacturing capabilities, please contact:
Norwich Pharmaceuticals Inc.
Bob Calabro
VP, Sales & Marketing
6826 State Highway 12
Norwich, NY 13815
Tel: 607-335-3209
Fax: 607-335-3100
E-mail: bob.calabro@norwichpharma.com
Website: www.norwichpharma.com

Copyright Business Wire 2008