Taiwan’s Lotus Pharmaceutical Co. announced a definitive agreement to acquire Alvogen US, a New Jersey-based specialty pharmaceutical company, marking the latest consolidation move in the global generics market.
The transaction gives Lotus access to a dedicated U.S. salesforce and manufacturing facility in Norwich, New York, along with what the Taiwanese company describes as a pipeline of complex generic drugs. Alvogen currently markets over 30 products and specializes in difficult-to-make pharmaceuticals including inhalation drugs and long-acting injectables.
Lotus, which trades on the Taiwan Stock Exchange under symbol 1795, claims the deal will help double its revenue and EBITDA, though the companies haven’t disclosed financial terms. The acquisition builds on existing collaboration between the firms under the leadership of Robert Wessman, who chairs both companies.
Lotus reported July revenue of NT$2.39 billion ($74 million), down 12% year-over-year, as the company faces headwinds in its export markets. The drugmaker had trailing 12-month revenue of $589 million as of March 2025.
The deal requires regulatory approval and reflects broader industry consolidation as generic drugmakers seek scale advantages. Alvogen was previously valued at $4 billion in 2017 with operations across 35 countries before spinning off international divisions.
For Lotus, founded in 1966, the acquisition represents a significant bet on the U.S. market where pricing pressures continue to challenge generic pharmaceutical companies.
