Enhancing the Security of Thailand and ASEAN by acquiring stocks of Lotus Pharmaceutical Co., Ltd., a listed company on the Taiwan Stock Exchange, which is a leading manufacturer and distributor of innovative medicines to pay the way for its life science business in the international market and drive the New S-Curve business of PTT Group.
Dr. Buranin Rattanasombat, Senior Executive Vice President, Strategy Management, Downstream Business Group Alignment, PTT Public Company Limited and Chairman of the Board of Directors, Innobic (Asia) Co., Ltd. or Innobic (Asia) (a wholly owned subsidiary of PTT) successfully acquired the newly issued shares of Lotus Pharmaceutical Co., Ltd. (LOTUS), a company listed on the Taiwan Stock Exchange. LOTUS is a leading manufacturer and distributor of innovative Medicines in Korea, the United States and Taiwan. The acquisition of new shares aimed at supporting the entry into life science business in accordance with PTT Group's new S-Curve expansion strategy took effect after the approval from the meeting of the Lotus Pharmaceutical Board who saw the potential of Innobic (Asia ) to support marketing and opportunities as a strong alliance in the ASEAN region on April 16, 2021. They approve the sale of 17,517,348 newly issued shares to Innobic (Asia) at a price of TWD 80.7 per share, totaling TWD 50 million, or 6.66% of the shareholders, thus making Innobic (Asia) the second largest shareholder after Alvogen Group, a large private international pharmaceutical company.
"This partnership is paving way for our direction to do business with partners who exhibit expertise, knowledge and capability to strengthen each other. Partnering with Lotus is a long-term strategic plan as Lotus is a fully integrated company with a whole process from manufacturing and selling in Korean, United States and Taiwanese markets. In addition to being internationally recognized, Lotus shares a common tenet with Innobic (Asia) in enhancing public health security in the ASEAN region. The alliance is in line with Innobic (Asia)’s strategy to create stability for Thai and regional health through the investment in four health sectors: medicine, healthy food, medical supplies and medical technology. The acquisition of shares is another step according to the strategy to drive life science business in Thailand in a concrete way," Dr. Buranin said.
Innobic (Asia) Company Limited, officially established on December 2020 with an aim to conduct the new Life Science businesses for PTT Group with its vision as leading life science company in the region by bringing best science and enhancing quality of life.
Founded in 1966, Lotus Pharmaceutical is a generic medicine company headquartered in Taiwan with high-value generic products covering CNS, CVS, oncology, women health, and anti-obesity drugs. It became an Alvogen Company in 2014. The company boasts a best-in-class R&D and internationally recognized manufacturing platform across Taiwan and Korea. Furthermore, Lotus can reach many the markets in many important regions with its network and through alliances with top-tier pharmaceutical companies.