Thailand’s state-owned energy giant PTT Public Company Limited (SET: PTT) is weighing its options for Lotus Pharmaceutical Co., its Taiwan-listed pharmaceutical unit, according to a Bloomberg report citing people familiar with the matter. The options reportedly include bringing on new partners to help expand the business across the Asia Pacific region.
Sources told Bloomberg that PTT — a company historically rooted in oil and gas — has enlisted financial advisers and is in the preliminary stages of gauging investor appetite for Lotus Pharmaceutical.
PTT has been diversifying beyond its core energy business in recent years, expanding into life sciences and other sectors. According to the report, the company is said to favor partners who could specifically strengthen Lotus Pharmaceutical’s operations in Thailand and surrounding markets — regions where PTT’s business is already concentrated.
Bloomberg’s sources also indicated that should the process move forward and new investors join, it could eventually pave the way for a full buyout of Lotus Pharmaceutical in the future.
As of this report, PTT has not issued a public statement confirming the deliberations, and the situation remains fluid.
About Lotus Pharmaceutical
Lotus Pharmaceutical Co., Ltd. (TWSE: 1795), founded in 1966 and headquartered in Taipei, is Taiwan’s largest pharmaceutical company and a major global player in specialty generics, with a particular focus on oncology, central nervous system, and cardiovascular treatments. The company is part of the Alvogen/Aztiq network and expanded its global reach by acquiring Alvogen’s U.S. operations in late 2025. Its manufacturing plants in Taiwan and South Korea hold certifications from U.S., European, and Japanese regulators.
PTT’s connection to Lotus dates back to 2021, when Lotus issued new shares through a private placement bought by Innobic (Asia), a wholly owned subsidiary of PTT and the company’s pharmaceutical and life-science arm. Innobic committed roughly $50 million to the deal, aimed at giving Lotus a stronger foothold across Southeast Asian markets including Thailand, Vietnam, the Philippines, and Malaysia.
