Alvogen Set To Gain Majority Of Lotus In $200M Asset Swap

Law360, New York (January 16, 2014, 6:55 PM EST) -- Multinational pharmaceuticals company Alvogen said Thursday that it and Taiwainese specialty pharmaceuticals maker Lotus Pharmaceutical Co. Ltd. have agreed to a pair of transactions through which Alvogen will swap $200 million worth of assets for a majority stake in Lotus.

According to a Thursday statement from Alvogen, the company agreed in December to pay $200 million to receive up to 151 million shares in Lotus, equivalent to a 67 percent stake in the company. Subsequently, Alvogen said that it has agreed to sell several of its...
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