News

  Bangkok, May 10, 2022 – Innobic (Asia) Company Limited (“INNOBIC”), a wholly owned subsidiary of PTT Public Company Limited (“PTT”), jointly with Aztiq HK. Limited (“AZTIQ”), a long term investor fund Iceland based, announced the completion of its acquisition of Alvogen Emerging Markets Holdings Limited (“AEMH”), a major shareholder of Lotus Pharmaceutical Co., Ltd. (“Lotus Pharmaceutical”) and Adalvo Ltd. (“Adalvo”) the major leaders in pharmaceutical industry. The share purchase deal, worth US$475 million, will make Innobic, a major shareholder in Lotus Pharmaceutical 37%, Adalvo 60% respectively. This acquisition strengthens Thailand’s health related sectors and reinforces Lotus Pharmaceutical as a global pharmaceutical company by combining Innobic’s contributions on its regional expansion in ASEAN countries and AZTIQ’s contributions on its hands-on commercial experience in pharmaceutical industry, creating a compelling platform full of supports both commercially and financially from shareholders.

   Mr. Auttapol Rerkpiboon, President & Chief Executive Officer, PTT Public Company Limited, stated that as a Thailand's fully integrated energy company, PTT not only developed expertise in petroleum business but also took the opportunity to diversify into new businesses in line with trends, sustainability and social responsibility. We established Innobic, a wholly owned subsidiary and life science arm to accomplish our new S-Curves target focusing on Pharmaceutical, Medical technology and Nutrition. This acquisition in Lotus Pharmaceutical and Adalvo, the major leaders in pharmaceutical industry, will speed up the goal line.

  Dr. Buranin Rattanasombat, Senior Executive Vice President, Innovation and New Ventures, PTT and Chairman of Innobic (Asia) Company Limited, said that with the rising concern on patient access to high quality pharmaceutical products, Thai patients’ quality of life is a vital part of Innobic’ strategy to promote pharmaceutical and biotechnology industry in Thailand. Today’s venture marks yet another successful milestone towards this goal. Lotus Pharmaceutical and Adalvo -the world’s leading companies in pharmaceutical business covering both production based technology and wide range of innovative products offering through B2B market network - represents a momentous chapter in establishing Thailand as the center of our future investment and collaboration.  

  Mr. Róbert Wessman, Chairman of Lotus Pharmaceutical / Founder of AZTIQ said that we are very excited about our journey with Innobic. We expect it will enable and accelerate the growth and expansion of Lotus Pharmaceutical and Adalvo. That will solidify our leadership position. Furthermore, it will provide our customers with innovative value propositions as part of our effort to improve people's lives and health worldwide, which aligns with my passion.

  Innobic and Aztiq expects to collaborate to enhance the synergies while further add values to Lotus Pharmaceutical unique qualities and enhance its competitive edge, and to work together to preserve its strength while creating more opportunities and synergies in business, a continued shift of growth to emerging markets, innovation, and operational excellence.

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About Innobic

   Innobic is a Thailand-based Life Science Platform with primary focus on South East Asia, while reaching global opportunities. Innobic is a wholly owned subsidiary of PTT Public Company Ltd, the state-owned enterprise and the largest company by market capitalization on Thailand Stock Exchange.  Being a national energy provider as well as multinational conglomerate, recently diversifies into new sectors, including Life Science, Renewables, and Electricity value chain. PTT currently has consolidated group revenues of over US$60 billion and market value US$33 billion.

   PTT established Innobic to become a leading Life Science Platform in ASEAN with a primary focus on Pharmaceuticals, Medical Technology and Nutrition businesses. The investment in Lotus as well as close partnership with Aztiq will support that objective. (www.innobicasia.com)

   In April of 2021, Innobic invested approximately US$50 million into Lotus by acquiring newly-issued shares via a private placement. Lotus and Innobic are committed to further collaboration to expand access to high quality medicines.  Additional investment through AEMH demonstrates both a strong belief in the Lotus strategy as well as a commitment to drive opportunities in the South East Asian pharmaceutical markets.

About Aztiq

   Aztiq is a long-term healthcare investor led by Alvogen’s and Alvotech’s Founder and Chairman Róbert Wessman.  Aztiq whose key investment focus is on pharmaceutical assets, is currently a leading and co-leading shareholder and operator of the following pharmaceutical assets:

   Lotus – A leading global oncology pharmaceutical company (www.lotuspharm.com)

   Adalvo – Global B2B pharmaceutical company, serving its partners and patients in over 100 markets worldwide (www.adalvo.com)

   Alvotech – A global biosimilar company (www.alvotech.com)

   Alvogen US / Almatica – US generics (Gx) and Specialty Pharmaceutical company.  (www.alvogenus.com / www.almatica.com)

   Established in 2009, Aztiq was founded on the principle that everyone should have the right to medicine, regardless of their financial means. 

   Róbert Wessman, has led over 50 strategic acquisitions and partnerships and established operations in over 60 countries. Wessman, alongside his seasoned team in Aztiq, continues to successfully launch and scale both industry-leading generic pharmaceutical and biosimilar companies all over the world.

About Lotus

   Founded in 1966, Lotus (1795: TT) now is a leading Asian based pharmaceutical company with global reach to provide high-value generic products covering CNS, CVS, women health, and anti-obesity drugs in tablets and hard/softgel capsule with a special focus on oral oncology for global markets.

   By boasting a best-in-class R&D and manufacturing platform in Asia, Lotus aims to benefit patients, its employees and stakeholders. Furthermore, Lotus can reach nearly every global market with its high value pipeline through its direct markets, currently encompassing Taiwan, Korea, Thailand, Vietnam, Singapore, Hong Kong, Malaysia, Philippines, and China, or via alliances with top-tier pharma companies based on its industry-leading infrastructure certified by most of the advanced regulatory authorities around the world, including US FDA, EU EMA, Japan PDMA, China FDA, and Brazil ANVISA.

   Lotus has also delivered outstanding financial results since Alvogen’s majority investment in 2014. It has achieved over 25% CAGR of net sales and over 40% CAGR of EBITDA during the past 7 years and is expected to continue the growth momentum with major launches in global markets in the next 12 months. 

About Adalvo

   Founded in 2018, Adalvo is a leading global B2B pharmaceutical company serving a global list of top tier partners and patients with its differentiated, high-value portfolio. The Company’s 3-pillar portfolio strategy, covering small molecules, value-added products, and peptides & biosimilars, positions Adalvo as a unique platform among its peers. Adalvo has established itself as a reliable global partner with commercial partnerships in more than 100 countries and currently serving over 90 partners globally.

Adalvo’s brand promise is to be “Always on Target” for its partners and patients.

Always on Target (www.adalvo.com)