Late on the 24th, Lotus Pharmaceutical held a press conference at the Taiwan Stock Exchange to announce its plan to acquire 100% of New Alvogen Group Holdings, Inc. (NAGH), thereby taking full ownership of the New Jersey-based privately held pharmaceutical company Alvogen US. The announced acquisition price is USD 658 million (approximately NT$19.94 billion). This move is set to propel Lotus into the ranks of the world’s top 20 specialty pharmaceutical companies.
Bjartur Shen, Vice General Manager of Lotus Pharmaceutical, stated that upon completion, the pro forma combined revenue and EBITDA are expected to double. The acquisition brings complementary product lines to Lotus, increasing the total product portfolio to nearly 100 items. A dedicated U.S. sales team will also strengthen Lotus’s commercial capabilities, while the company will benefit from Alvogen US’s FDA-compliant manufacturing facilities.
Shen added that the transaction implies an enterprise value of approximately USD 2 billion. The deal structure includes cash, preferred shares, and performance-based earnouts linked to future milestones. Regulatory approvals are still required before the transaction can be finalized.
Lotus emphasized that the acquisition unites two full-spectrum pharmaceutical companies, combining Lotus’s existing advantages in Asia with Alvogen US’s U.S.-based research, manufacturing, and commercial capabilities. This foundation will enable Lotus to further market its specialty drugs globally and gain direct entry into the world’s largest pharmaceutical market, leveraging its established platform to drive future growth.
Petar Vazharov, General Manager of Lotus Pharmaceutical, described the milestone acquisition as a key breakthrough, noting that Lotus and Alvogen US have worked side by side for over a decade, building trust and achieving strong results. He expressed confidence that the integration will proceed smoothly, with both companies collaborating to build a stronger platform for future growth.
Robert Wessman, Lotus Chairman and also Chairman of Alvogen US, added: “We are excited about combining Alvogen US with Lotus. This acquisition is a natural evolution of our long-term partnership, allowing our specialty product lines and professional teams to grow and expand their impact on a broader platform. Importantly, this transaction underscores Lotus’s strategic approach—strengthening its presence in core Asia-Pacific and U.S. markets, leveraging B2B collaborations and acquisitions to expand growth opportunities, and enhancing our specialty product portfolio. With this shared vision, we will continue to build sustainable growth momentum and create value for patients and stakeholders worldwide.”
According to Lotus’s official filing, the acquisition of 100% of NAGH shares totals approximately USD 658 million, including about 13.4% equity converted from Lotus-held preferred shares. Approximately 65% of the purchase price will be paid in cash, with the remaining 35% settled by issuing redeemable preferred shares to existing NAGH common shareholders (excluding Lotus), including Aztiq Pharma Partners S.à r.l., which accounts for around USD 50.56 million.
Lotus noted that its prior collaboration with NAGH/Alvogen US has successfully launched challenging U.S. generics such as Buprenorphine/Naloxone in 2019 and Lenalidomide in 2022, securing leading U.S. market positions for both. Additional complex generic development projects are underway. Through this acquisition, Lotus gains direct access to the world’s largest pharmaceutical market, a high-quality U.S. manufacturing base, expanded product lines, enhanced R&D capabilities, and new business development opportunities. With a decade of prior collaboration with NAGH, integration risks are low, and synergies are expected to accelerate.
Resource: 美時製藥200億元收購Alvogen US 躋身全球前20大專科製藥公司
