Alvogen Pharma, a Morristown pharmaceutical company, will be sold and become a controlled subsidiary of Lotus Pharmaceutical, the company announced Tuesday.
Jefferies LLC and Rothschild & Co acted as joint financial advisors to Alvogen on this transaction, and White & Case LLP acted as legal advisor.
Alvogen and Lotus have a continued history of collaboration, and this agreement will give Lotus access to a U.S. platform including a dedicated salesforce, in-house manufacturing at Alvogen’s Norwich, New York facility, and a complementary R&D pipeline.
Alvogen CEO Lisa Graver spoke on the future of both companies.
“This acquisition represents a culmination of Alvogen’s operational excellence and targeted portfolio aimed at sustainable growth,” she said. “Joining Lotus positions Alvogen for its next stage of expansion into multiple segments.”
“With Lotus’ global partnerships and APAC distribution, we expect to extend the reach of our specialized generics and brands while maintaining our commitment to quality and reliable supply from our Norwich facility.”
