Alvogen takes 67% stake in Lotus Pharma

Privately-owned US generics firm Alvogen revealed that, last month, it agreed to become the majority shareholder in Taiwanese Lotus Pharmaceuticals through a private placement of newly issued shares, acquiring up to 151 million shares in the company.

The total transaction value will be around $200 million and will result in Alvogen owning around 67% of Lotus.

This is the third acquisition for Alvogen in little over a year. The company acquired Labormed Pharmaceuticals, a Romania-based pharmaceutical company engaged in the manufacturing and sales of generic medicines (The Pharma Letter February 1, 2013) and acquired a majority share in South Korea-based generic drugs manufacturer and marketer Kunwha Pharmaceuticals (TPL October 21, 2012).