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Alvogen and Lotus Pharmaceuticals Merge Asian Operations to Create Compelling Platform for International Growth
http://www.businesswire.com/news/home/20140116006005/en/Alvogen-Lotus-Pharmaceuticals-Merge-Asian-Operations-Create
Alvogen to become 67% shareholder in Lotus; Lotus to use funds to acquire Alvogen’s Asian operation
Combined regional group will have increased regional market reach and a broadened product portfolio
Exclusive marketing rights for two high-value biopharmaceuticals for selective APAC markets are under negotiations between the parties
Robert Wessman, Chairman & CEO of Alvogen
Robert Wessman, Chairman & CEO of Alvogen
Robert Wessman, Chairman & CEO of Alvogen
January 16, 2014 10:58 AM Eastern Standard Time
PINEBROOK, N.J.--(BUSINESS WIRE)--Alvogen, the multinational pharmaceuticals company, agreed in December 2013 to become the majority shareholder in Taiwanese Lotus Pharmaceuticals (“Lotus”) through a private placement of newly issued shares, acquiring up to 151 million shares in the company. The total transaction value will be approximately US$200 million (approx. NTD 6 billion). As a results of the transaction, Alvogen´s shareholding will be approximately 67% in Lotus.
“This partnership represents an exciting development for Alvogen and Lotus, both of which will benefit from increased scale, a larger portfolio and broader geographic reach. The new Group will represent compelling value for our shareholders, and creates a strong platform for growth in Asia Pacific and internationally.”
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Following the above transaction, Alvogen and Lotus today announce that Lotus is using the proceeds of the share issue to acquire several of Alvogen’s businesses in Asia. Exclusive distribution rights for two high-value biopharmaceuticals for selective Asian markets are under negotiations between the parties. Transaction value is approximately US$ 200 million.
The combination of Alvogen’s strong geographic coverage in the US, Central and Eastern Europe and Asia with Lotus’ strategically important foothold in the Taiwanese market and its growing US product pipeline is expected to generate significant opportunities to drive revenue growth, margin enhancement and create further value for the two companies. Both Alvogen and Lotus will benefit from the increased scale, portfolio and geographic reach.
Key Benefits of the Transaction
Combined with Alvogen‘s October 2012 purchase of the South Korean company, Kunwha Pharmaceuticals, the partnership with Lotus will significantly strengthen Alvogen’s position in the key Asia Pacific region with enhanced reach into Taiwan and China and a new market presence in Japan.
Alvogen will gain access to high potency and cytotoxic oral formulation capacity through Lotus’ FDA approved manufacturing facility, as well as securing broad experience in marketing and distribution in the region. Together, the companies will have manufacturing and product development capabilities in North America, Taiwan, South Korea, and Romania.
Through Alvogen, Lotus will gain a sales and marketing network in more than 30 countries that will enhance its export opportunities as well as provide access to Alvogen’s global pipeline for the Taiwanese market.
Alvogen and Lotus will collaborate in the important US market, by developing more difficult to produce generic products.
Commenting on the transaction, Mr. Robert Wessman, Chairman and CEO of Alvogen, said: "The proposed transactions between Alvogen and Lotus represent a highly exciting opportunity for both companies. These transactions will create a significantly enlarged group, which will enhance its market presence in Asia, with a broad product portfolio and international market reach. Alvogen’s investment in Lotus offers compelling value for Lotus’ shareholders, providing the group with significant opportunities to drive revenue growth, enhance margins and create further value for the two companies.”
Charles Lin, Chairman of Lotus, added "This partnership represents an exciting development for Alvogen and Lotus, both of which will benefit from increased scale, a larger portfolio and broader geographic reach. The new Group will represent compelling value for our shareholders, and creates a strong platform for growth in Asia Pacific and internationally.”
Both transactions are subject to shareholder and regulatory approvals, and closing is expected in the second quarter 2014.
About Alvogen
Alvogen is a multinational, privately owned pharmaceuticals company focused on developing, manufacturing and distributing generic, brand, over-the-counter brands (OTC) and biosimilar products. With more than 200 pharmaceutical projects in development and registration, the group’s product portfolio consists of a broad range of leading molecules for the treatment of conditions in the fields of: oncology, cardiology, respiratory, neurology and gastroenterology. Alvogen has commercial operations in over 30 countries with 2000 employees. North America is Alvogen’s single largest market and other key markets include: South-Korea, Romania, Bulgaria, Hungary, Russia and China. Visit: www.alvogen.com
About Lotus Pharmaceuticals
Lotus Pharmaceuticals is a specialty pharmaceuticals company in Taiwan with FDA-inspected manufacturing facilities. The company’s product portfolio emphasizes difficult to formulate CNS (central nervous system) and oral oncology drugs. The company currently has 278 employees, with headquarters in Tapei, Taiwan.
Visit: http://www.lotuspharm.com.tw/
Taiwanese market backdrop for editors:
The Taiwanese pharmaceutical market is currently valued at around US$6 billion and is expected to grow by about 5% over the next five years. The share of the generic market by volume is around 40%. Taiwan is a hospital-based market, with hospitals representing some 78% of the market, followed by retail drugstores and GP/Clinics. The Taiwanese economy is closely linked to China and, through recently signed agreements including the Economic Cooperation Framework Agreement (ECFA), the Taiwanese pharmaceutical industry will be able to profit from wider access to the Chinese market.
Note to editors:
For more information on Alvogen and to download logo or images of senior management, please visit the Alvogen website, www.alvogen.com.
LOTUS WILL MARKET ACLASTA IN TAIWAN TO FURTHER STRENGTHEN LOCAL PORTFOLIO
POSTED ON 5.4.2017
Lotus Pharmaceutical Co., Ltd (“Lotus” or “the Company”, Taiwan OTC ticker: 1795) today announced that MA of the branded product AclastaR solution for infusion was successfully transferred from Novartis Taiwan to Lotus Pharmaceutical. The acquired product for osteoporosis will be marketed in Taiwan by Lotus.
LOTUS WILL MARKET ACLASTA IN TAIWAN: LOTUS GENERAL MANAGER JEFFERSON WANG AND DR. RONG-SEN YANG FROM DEPARTMENT OF ORTHOPEDIC SURGERY OF NATIONAL TAIWAN UNIVERSITY HOSPITAL EXCHANGED THOUGHTS ON THE THERAPEUTIC AREA
The acquisition of this well-established branded product further strengths Lotus’ branded portfolio in Taiwan particularly in a steadily growing market as osteoporosis. Commenting on the transaction, Jefferson Wang, General Manager of Lotus, said, “The acquisition solidifies our local portfolio and enhances our platform for continued growth across the APAC region. We continue to build our offer in Taiwan to catalyze growth and there will be more new product launches starting 2017.”
something going on with LTUS and LPIH
No volume, no news; a 150% increase on a $20 phony trade means nothing. From all indications the company no longer exists.
Bunch of chi-coms can't be trusted. Crooks!
Someone is buying finally. Wonder what's going on. Anyone still in touch with the company? I can't find anyone!
You nailed it no Chinese companies ever again, LPH has removed my will to live.
Yeah, I had high hopes also but what I did not understand was that I was dealing with a bunch of chinese con men. There just is not any justice in this world. We got screwed. I would never invest in another China company.
Guessing it would be very tough to effectively sue these F'ers or else there would already be a lawsuit in process. Really makes you wonder how much of what they reported was real and what was just numbers and words scribbled down on paper.. Boy, did I have high hopes for Lotus Pharma..
Let us face the truth, we got scammed by this company. They have just vanished into the sunset.
What surprises me is that these criminals have gotten away with our money and there is nothing but silence on this board. Does anyone know a good law firm?
Anybody see them letting this continue to dwindle and ultimately take Lotus private when PPS is low enough? Wish there was a viable contact in China that could provide some input about if/how business is running. Would love to see the Geo-Investing boys take a trip over to the new facility and do some on the ground research over there. Man, this one had some real potential at one point. At least on paper...
I tried to email them but the email address was not valid. I do not understand what this company is doing or even if they exist anymore. They are not talking with shareholders and that is not a good sign.
I tried calling the former LOTUS rep for the US but he did not return my call. Someone must know if Lotus is in new building and still in operation. HELP!
Does anyone know when this dead beat company is going to communicate with its shareholders. Maybe we need to talk with a lawfirm.
Do you think this company is going to ever communicate with the shareholders again or are they going to go quietly into the sunset with our money?
I believe the CO is going along just fine and accumulating sellers shares .It would only take $6M for the to take the Co private at .5o c . That is the typical way of the Chinese rto.
Has anyone heard anything about if LTUS is still in business, in the new building, increasing revenues, anything? Is there a contact person for LTUS that speaks English?
all sells here today....wo 5 cent backer where would this be now?????tmonkwy
i was in a long time ago when all was rosy.....a gamble it is............why not........tmonkey
Not a bull or a bear - just pure gambler
eb are you really a bull here....crooks are crooks and these chinese tigers dont have to change their stripes as nothing ever will catch up w them..........tmonkey
I'd buy a set with the money I'm gonna make on LTUS.
best buy might have the old shows on dvd's...they have lots of shows from the 60's and 70's
have not checked for this one but will next time i'm there
Phil was one of the best....wish they would bring it back again, its been years since I was able to watch it late night.
i'm in good company bought .058 and added just under .052
the phil silvers show one of the best ever
I hold em til they payoff - I'm not in a rush like most here.
Wow, you here too....still holding the other SIP*?
I have the stomach for buying some macaroons - UMMMMMM TASTY
LOL.
Public Announcement From Lotus Pharmaceuticals, Inc.
PR NewswirePress Release: Lotus Pharmaceuticals, Inc. – 2 hours 17 minutes ago
BEIJING, April 10, 2012 /PRNewswire-Asia/ -- Lotus Pharmaceuticals, Inc. (OTCBB: LTUS.OB - News) ("Lotus" or the "Company") issued the following statement: For the past five years when Lotus Pharmaceuticals became a public company on the OTC bulletin board, the Company invested a significant amount of capital every year in maintaining a good listing status. In the past two years, the Company has put in a large amount of capital in the building and furnishings of its new headquarters in Beijing Chaoyang District. The funding for the new building all came from the Company's operational income and the Company has not received any external funding support. As a result, the Company is experiencing a liquidity crunch currently with an extremely low level of working capital, and will be unable to continue to spend on auditing and other professional services that are required for a public company. Given our financial condition, if we could not secure additional investments from outside, the Company will not be able to fund professional services that are necessary for a public company, such as auditing and legal services, and the Company could get delisted eventually. If there are investors that would like to support us and provide us with additional funding, we would be glad to work out a solution so that we could maintain our good listing status. We appreciate your understanding, help, and support over the years.
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. is a profitable developer and producer of drugs and a licensed national seller of pharmaceutical items in the People's Republic of China (PRC). Lotus operates its business through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development is focused on the treatment of cerebro-cardiovascular diseases, asthma and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.
Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.
Contact:
Zhongyi Liu
CEO of Lotus Pharmaceuticals, Inc.
Ph: 86-10-63830088
Email: liu@lotuspharma.com
Web: http://www.lotuspharma.com
Was the split back in December of 2010 a RS? I am having difficulty confirming the data?
Mr. Toups’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
That would be a lie.
The way it looks, LTUS had about $55 million in assets on the books for the property it sold and about $14 million in liabilities for that property. If no cash exchanged hands, LTUS lost about $41 million in the deal. Does anyone see it differently?
Even Toups can't stand the bs factor at LTUS. He has resigned (per an 8K).
On January 3, 2012, Michael Toups resigned as a director of Lotus Pharmaceuticals, Inc. (the “Company”). Mr. Toups’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices
http://people.forbes.com/profile/michael-toups/145317
lol apparently he still is director for lotus.
lol, perhaps shorting any of his companies is profitable
email i sent today to a guy who i believe lied to me:
he told me about a year ago that he'd quit if he believed that the company was committing fraud. after a year he is either delusional or a liar. that's my opinion. at least Ian Ashley told me what was going on straight up. Respect.
From: Glen Bradford [mailto:
Sent: Wednesday, January 11, 2012 11:23 AM
To: 'shen@lotuspharma.com'
Subject: lol latest pr
You are a liar my dude.
http://www.marketwatch.com/story/lotus-pharmaceuticals-announces-business-reorganization-and-provides-updates-on-the-beijing-headquarters-building-2012-01-04
your company is a fraud and you still “work” there.
Lol, you told me you’d quit if you thought it was a fraud, it’s been long enough.
Do Not Lose,
Glen Bradford
CEO ARM Holdings LLC
www.glenbradford.com
www.armholdingsllc.com
None of the above is intended as investment advice. I can't guarantee the information I gathered is from an accurate source. I may buy or sell any stock or security without prior notice.
Disclaimer: http://www.glenbradford.com/disclaimer.php
tldr; i dont really care, i dont own a position here anymore. stock is worth $0. is michael toups still the cfo?
gosh, i disrespect my old self for liking these types of companies that are in the business of selling sec filings as opposed to the business that they sec filings claim that they are in the business of.
have to hand it to them though... respect the fraudsters who run away with my money out of my own ignorance.. but... gosh, it certainly sucks to be taken for a ride.
it's worth noting that all of my research indicates that this is liquid fraud.
http://www.marketwatch.com/story/lotus-pharmaceuticals-announces-business-reorganization-and-provides-updates-on-the-beijing-headquarters-building-2012-01-04
translation: hey guys. thanks for your money. now that we've defrauded you we are going to chalk up losses on land we never owned but convinced you that we did and we'll go dark.
cya.
Doesn't quite pass the sniff test does it? I smell BS.
Remember, LTUS has been taking big tax credits every quarter that were taken in good faith that they would develop the land. They did not develop the land, therefore the money must be returned.
And the liabilities magically matched the exact price of the land? Something just doesn't seem right here. How mnay "back taxes and sewage costs" can there be on land that wasn't being used? I'd like to hear a little further explanation from the company....
You missed this... they get rid of the assets but also liabilities ... thus equivalent to LTUS receiving cash and using the cash to payoff debt.
"Meng Xin will receive the assets and assume the liabilities after the transaction. "
OK, so unless I'm reading today's press release incorrectly, LTUS just gave away a $44.5 million building for nothing?
Can someone clarify for me?
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