Lotus Pharmaceutical Co., Ltd. · TWSE:1795
Lotus Pharmaceutical — Merger or Acquisition (September 2025)
23 slides from Lotus Pharmaceutical's merger presentation, September 2025
Slide 1: Acquisition of Alvogen US
September 2025 Acquisition of Alvogen US
Slide 2: Safe Harbor Statement
LOTUS CONFIDENTIAL 2 Safe Harbor Statement Except for historical information contained herein, the matters set forth in this presentation are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These forward looking statements
Slide 3: Agenda
Table of Contents LOTUS CONFIDENTIAL 3 Agenda 1 EXECUTIVE SUMMARY 2 ALVOGEN US OVERVIEW 3 DEAL RATIONALE 4 PRO FORMA FINANCIALS
Slide 4: Executive Summary
01 EXECUTIVE SUMMARY
Slide 5: From Long-Term Partners to Global Powerhouse: A Transformative Acquisition
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 5 From Long-Term Partners to Global Powerhouse: A Transformative Acquisition Global Leadership & Complementary & Reinforcing U.S. Disciplined Deal Scale Expanded Pipeline Market Access Structure & Alignment
Slide 6: Alvogen US Overview
02 ALVOGEN US OVERVIEW
Slide 7: Fully-Integrated Specialty Pharma
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 7 Fully-Integrated Specialty Pharma Team of ~100, including 13 PhDs 30 18 ~4bn Expertise in analytical development and complex characterisation, with know-how + R&D across multiple drug delivery systems
Slide 8: US Based Manufacturing Site with Capacity For Expansion
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 8 US Based Manufacturing Site with Capacity For Expansion Site Capabilities and Expertise Acquired from P&G and refitted by Alvogen US in 2009 Norwich, NY Broad capabilities including dedicated pilot sca
Slide 9: Deal Rationale
03 DEAL RATIONALE
Slide 10: From Long-Term Partners to Global Powerhouse: A Transformative Acquisition
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 10 From Long-Term Partners to Global Powerhouse: A Transformative Acquisition 1 2 3 4 Creating a Top Global Building a Diversified Acquiring a Fully- Unlocking Synergies for Specialty Player Portfolio & Pipe
Slide 11: Creating a Top Global Specialty Player
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 11 1 Creating a Top Global Specialty Player 2024 Top Complex Generic Manufacturer Sales (US$ bn)1 1.9x Combined Pro Forma TEVA VIATRIS 10.15 12.85 Revenue2 SANDOZ 9.15 SUN PHARMA 5.22 FRESENIUS 4.23 #17 DR R
Slide 12: Building a Diversified Drug Portfolio & Pipeline
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 12 2 Building a Diversified Drug Portfolio & Pipeline Complementary To Lotus’ Existing Pipeline Lotus (80) Alvogen US (18) Combined (98) Oncology & Immunology 41 3 44 Central Nervous System 9 6 15 Primary Ca
Slide 13: Building a Diversified Drug Portfolio & Pipeline
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 13 2 Building a Diversified Drug Portfolio & Pipeline Enhancing Lotus’ Pipeline in the US Lotus (28) Alvogen US (18) Combined (46) ANDA – NCE-1 8 4 12 ANDA – Others 9 9 18 505(b)(2) 11 5 16 Note: As at 31 Ju
Slide 14: Acquiring a Fully-Integrated US Platform
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 14 3 Acquiring a Fully-Integrated US Platform Lotus Footprint with 90+ Markets Worldwide SVALBARD (NORWAY) GREENLAND ALASKA (USA) ICELAND FAROE ISLANDS SWEDEN FINLAND ESTONIA NORWAY RUSSIA CANADA LATVIA DENM
Slide 15: Alvogen US: A Pivotal Milestone in Lotus' Proven Growth Strategy & Vision
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 15 Alvogen US: A Pivotal Milestone in Lotus’ Proven Growth Strategy & Vision 3 Bolstering Our Specialty Pipeline Building Best in Class pipeline driven by combined efforts of R&D and BD, with focus on 505(b)
Slide 16: Pro Forma Financials
04 PRO FORMA FINANCIALS
Slide 17: Enlarged Scale and Profitability
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 17 Enlarged Scale and Profitability Pro Forma Revenue Pro Forma Adjusted EBITDA 2.0x 1.9x Standalone Pro Forma Standalone Pro Forma Pro forma after intercompany elimination attributable from Alvogen US’ purc
Slide 18: Significantly Elevate Our Presence in the US Markets
Transaction Overview Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 18 Significantly Elevate Our Presence in the US Markets Lotus Revenue by Geography Pro Forma Revenue by Geography1 RoW SEA RoW 7% 4% 3% SEA Taiwan 8% 6% Korea Taiwan US 13% 13% 41% Korea US 30% 74% May no
Slide 19: Sustainable Leverage that is Below Industry Level
Executive Summary Alvogen US Overview Deal Rationale Pro Forma Financials LOTUS CONFIDENTIAL 19 Sustainable Leverage that is Below Industry Level Pro Forma Net Debt / LTM EBITDA Net Debt / LTM EBITDA Benchmarking +Alvogen US 1.9x 1.9x Peer A Baxter 8.0x Peer B Teva 7.9x Peer C Viatris 4.5x Peer D AN
Slide 20: Appendix
ZEB | ZZ Lig
Slide 21: Alvogen US Acquisition Deal Structure
LOTUS CONFIDENTIAL 21 Alvogen US Acquisition Deal Structure Funding of Valuation1 Limited Upfront USD2bn Cash Payment USD500m Cash Consideration USD70m USD249mm Lotus’ Portion Preferred USD841m 2 Shares USD228mm USD108m USD73m USD477m Total Value Earnout Net Redemption Lotus Current Value of 3 4 of
Slide 22: ~ Confidence § | Om VS
~ Confidence § | Om VS in Every Sie | tes
Slide 23: An international pharmaceutical company with a global presence, focused on commercialising novel and generic
An international pharmaceutical company with a global presence, focused on commercialising novel and generic pharmaceuticals, offering patients better, safer and more accessible medicines https://www.lotuspharm.com.tw/ +886 2 2700 5908 [email protected] in www.linkedin.com/company/lotus-pharmaceut
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