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Aztiq and Innobic officially become Lotus’s majority shareholders

Investors
11 May 2022
  • The transaction of Aztiq and Innobic to acquire a 100% stake in Alvogen Emerging Markets Holdings Limited has been officially completed.
  • Aztiq and Innobic formally become the majority shareholders of Lotus upon the closing.
  • The Consortium’s collective industry experience, geographical reach, and commitment in sustainable development create a unique alliance of investors that can help guide the next phase of development for Lotus to become a global leader.

Lotus Pharmaceuticals (1795:TT, the “Company”), a multinational pharmaceutical company, today announced that the transaction of Aztiq (“Aztiq”, a healthcare investor led by Alvogen Chairman and CEO Róbert Wessman) and Innobic(Asia)Company Limited (“Innobic”, a wholly-owned Life Science arm of PTT Public Company Limited, “PTT”, SET ticker: PTT) to acquire a 100% stake in Lotus’s controlling shareholder Alvogen Emerging Markets Holdings Limited (“AEMH”) from Alvogen Lux Holdings Sarl(“Alvogen”)has been officially completed.

Following the closing of this transaction, the strategic joint force of Aztiq and Innobic has formally become the leading shareholder with the controlling stake of 51%in Lotus. This powerful alliance not only paves the way for the regional expansion in ASEAN countries but also creates a compelling platform full of supports both commercially and financially.

Róbert Wessman, Founder of Aztiq/ Chairman of Lotus, indicated:Synergies from collaboration with Innobic will definitely accelerate the growth and expansion of Lotus. I am proud to have these proven partners to cooperate together and make efforts to improve people’s live and health around the world which is in line with my personal mission.

Petar Vazharov, Chief Executive Officer of Lotus, said:“We are so excited to kick off another new chapter of Lotuss journey with the combined efforts from industry veteran and regional leader. Lotus has achieved several major milestones and now is the largest generic company in Taiwan. This transaction is again a truly testimonial for all the achievements Lotus has made during the past few years and a great recognition by these two long term partners for Lotus. It creates a unique platform, where Innobic will play a significant role with its compelling position in ASEAN region and Aztiq will deploy the industry insights with global reaches, to support Lotusexisting strategy and fuel the growth by bringing new opportunities, experience and resources.”

Dr. Buranin Rattanasombat, Senior Executive Vice President, Innovation and New Ventures, PTT and Chairman of Innobic(Asia), commented: Innobic is committed to exploring and developing transformative therapies that improve access for patients in the Region. The transaction not only strengthen our commercial footprint but also accelerate pharmaceuticals business development in Thailand, accessing to new pharmaceutical and medical innovation capabilities. As well, this collaboration presents ambitious geographical reach and strengthens Lotus strong pipeline in ASEAN and globally.”

With kicking off the new chapter of collaboration, Lotus and Innobic will work together to help upgrade the pharmaceutical industry in the region and create opportunities to expand its market territories to the ASEAN region. Lotus will further leverage the value of this collaboration for better innovation and operational excellence moving forwards.