Malta’s Office for Competition has received a notification of concentration between Taiwan’s Lotus Pharmaceutical Group and New Alvogen Group Holdings.

Alvogen Pharma US, a privately held US-based pharmaceutical company, has announced a definitive agreement by its shareholders to sell its parent company to Lotus Pharmaceutical.

Once completed, Alvogen will become a controlled subsidiary of Lotus, pending customary closing conditions.

In 2015, Alvogen opened its regional headquarters in Malta, although it downsized its operation in 2018 and again in 2020.

It was based at the Life Sciences Park in San Ġwann, but the facility has confirmed to WhosWho.mt that the company no longer operates there. It is not immediately clear whether Alvogen is still present in Malta in any capacity.

The acquisition by Lotus of Alvagen’s US operations builds on a long-standing collaboration between the two companies, which has already resulted in several successful co-developed product launches.

Through this agreement, Lotus gains access to a strong US commercial platform that includes Alvogen’s dedicated salesforce, in-house manufacturing capabilities at its Norwich, New York facility, and a complementary research and development pipeline.

Lisa Graver, Chief Executive Officer of Alvogen, described the transaction as a natural next step in the company’s growth journey.

“This acquisition represents a culmination of Alvogen’s operational excellence and targeted portfolio aimed at sustainable growth. 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 specialised generics and brands while maintaining our commitment to quality and reliable supply from our Norwich facility,” she said.

Robert Wessman, Chairman of both Alvogen and Lotus, echoed this sentiment, highlighting the strategic fit and long-term potential of the merger.

“We are excited to combine Alvogen with Lotus Pharmaceutical. This acquisition represents a natural evolution of our partnership and provides our specialty portfolio and dedicated team with a broader platform for growth and impact. Importantly, this deal is also a testament to Lotus’ proven strategy – growing our presence in core areas in APAC and the US, developing new opportunities through B2B and M&A, and bolstering our specialty pipeline,” he said.