Aztiq, a healthcare investor led by Alvogen Founder and Chairman Róbert Wessman, and Innobic (Asia) Company Limited (“Innobic”), a life sciences subsidiary of Thailand industrial group PTT, announced the signing of a definitive agreement to acquire a 100% stake in Alvogen Emerging Market Holdings Limited (“AEMH”) from its existing shareholders for $475 million. The aim of the alliance between Aztiq and Innobic and the transaction is to create a powerful pharmaceuticals enterprise with global resources, networks and reach.
Through the transaction, one of the largest in the sector this year, the consortium becomes the leading shareholder in the global oncology pharmaceutical company Lotus Pharmaceutical (“Lotus”, TWSE ticker: 1795), and the sole shareholder in Alvogen Malta Holding Ltd., the owner of the fast-growing global business to business (B2B) pharmaceutical company Adalvo.
AEMH is currently owned by Alvogen Lux Holdings Sarl (“Alvogen”). Key shareholders in Alvogen include CVC Capital Partners and Temasek Holdings of Singapore, as well as Aztiq. Alvogen will remain a leading shareholder in the generic pharmaceutical company Alvogen US, including specialty pharma company Almatica, as well as the second largest shareholder in global biosimilars company Alvotech.
The members of the consortium bring impressive and complementary leadership and expertise. Róbert Wessman has over the last six years successfully led the transformation of Lotus from a small local Taiwanese company into a leading generic ora oncology company. Innobic’s parent company PTT Group is Thailand’s largest industrial conglomerate, with extensive commercial and business networks across the fast-growing ASEAN countries.
Aztiq’s founder and chairman, Róbert Wessman, will continue to serve as chairman of the board of both Lotus and Adalvo.
This consortium’s unique market knowledge along with strong support from shareholders will provide Lotus and Adalvo with a competitive advantage in a thriving industry, enabling them to extend their leadership globally. Both companies share the mission of making high-quality medicines accessible to patients around the world, and with the expertise and resources that will be readily available to them, they will accelerate progress towards this goal. From oral oncology to research innovation in over-the-counter products, Lotus and Adalvo will together pave the way for greater global access to first-class treatments and medication.