PTT Public Company Limited (SET: PTT) has informed the Stock Exchange of Thailand that on 23 September 2025, Board of Directors of Lotus Pharmaceutical Company Limited (Lotus) (Taiwan listed company on TWSE ticker: 1795), in which Innobic (Asia) Company Limited (INBA) (a wholly-owned subsidiary of PTT) is the major shareholder, approved the acquisition of the entire equity interest in New Alvogen Group Holdings Inc. (Alvogen US) through Lotus US Financing S.à r.l. (Lotus’s new establishment company) with the equity value at approximately USD 658 million, comprising a combination of approximately 65% of cash and loans from Lotus, and proceeds from existing shareholders of Alvogen US. The company focuses on research and development, manufacturing, and marketing of specialty pharma products in the U.S.
This investment will enable Lotus to access the U.S. market, the largest pharmaceutical market in the world. It will also strengthen Lotus’ capabilities in research and development, manufacturing and commercialization, aligning with PTT Group’s business strategy in Life Sciences as an investor to support self-funding growth in Lotus’s pharmaceutical business, while also creating long-term benefits to both PTT Group and Thailand.
According to LSEG, Lotus Pharmaceutical Co. Ltd. is a Taiwan-based company mainly engaged in the manufacture and sale of generic drugs. The products are mainly solid preparations such as tablets and capsules. The main products include oral anti-cancer drugs, cardiovascular disease drugs, central nervous system drugs, women’s health products, osteoporosis drugs and mental disease drugs. The Company is also engaged in the drug research, development and clinical testing business, as well as the product licensing business. The Company mainly distributes products in Taiwan, South Korea, the United States, China mainland, Japan, Europe and Southeast Asia markets.
