[4][5] The first and still a central component of Alvogen is the 130-year old Norwich Pharmaceuticals, which was acquired by Wessman and his investors as a large-scale and certified manufacturing facility.

[7][8] In East Asia, it acquired South Korea firms Kunwha[9] and DreamPharma,[10] and then operated them under the umbrella of Lotus Pharmaceuticals, a Taiwan company it purchased in 2014 and which is listed on the Taipei Stock Exchange (1795.TT).

[12] The history of the growth of Alvogen is the subject of a Harvard Business School case study published in 2018.

[15] In 2021, it spun off Lotus to a consortium of Innobic and Wessman's investment fund Aztiq, which also bought Alvogen's Malta-based B2B licensing division Adalvo.

[17] Alvogen was also the original investor in Alvotech, a company founded by Wessman in 2013 that researches and manufactures biosimilars.