Alvogen’s Taiwan company – Lotus – exchange stake with Fuji PharmaMarch 21, 2019
|Alvogen’s subsidiary in Taiwan, Lotus Pharmaceuticals today announced capital and business collaboration agreements with Fuji Pharma in Japan, as Fuji has acquired a 2.0% stake in Lotus for approximately US$20 million (or NT$ 617 million, JPY 2.2 billion). Lotus has also acquired 3.9% stake in Fuji for an equal sum. |
The transaction is designed to further strengthen Lotus and Fuji’s commercial platform in Japan and other key Asian pharmaceutical markets, to explore cross-selling opportunities, realize synergies in manufacturing and to jointly invest in the development of specialty products for the region.
Commenting on the transaction, Robert Wessman, Chairman of Lotus, said: “I am delighted to welcome such a prestigious investor on board, who brings significant industry experience and rich R&D resources from one of the largest pharmaceutical markets. Fuji Pharma is an excellent partner and we are looking forward to collaborating with their high-caliber team as we work to fuel regional growth for Lotus and continue to bring high quality medicines to patients.”
Hirofumi Imai, Chairman of Fuji Pharma, said: “Fuji Pharma is extremely pleased to agree on this partnership with Lotus. At Fuji, we strongly believe in the global competitiveness of the oral oncology and specialty products that Lotus develop and manufacture. Our cross-investment reflects a long-term business collaboration that we are committed to. I look forward to working with Mr. Wessman and the rest of the team at Lotus.”