PTT Public Company Limited’s (SET: PTT) ambitious strategy to drive new long-term growth via its Life Sciences business has reached a pivotal milestone with the latest acquisition announcement from its subsidiary, Innobic (Asia) Co., Ltd. Lotus Pharmaceutical Company Limited (TWSE: 1795), in which Innobic is the major shareholder, has been approved by its board to acquire the entirety of New Alvogen Group Holdings Inc. (Alvogen US) for approximately USD 658 million.
This acquisition will be executed through Lotus’ newly established entity, Lotus US Financing S.à r.l., with funding comprised of both internal cash/loans and contributions from Alvogen US’s existing shareholders.
Crucially, this strategic move delivers PTT a significant competitive edge amid a rapidly changing regulatory landscape under President Donald Trump’s administration.
The U.S. leader recently announced that tariffs on pharmaceuticals imported into the United States could climb as high as 250%—the steepest rate threatened to date. This policy shift has already triggered major pharmaceutical players, such as AstraZeneca, to pledge substantial investments in U.S.-based manufacturing in order to avoid potential tariff impacts.
However, the barrier that most global pharmaceutical firms currently face is essentially non-existent for PTT and Lotus following the Alvogen acquisition. By acquiring a U.S.-based pharmaceutical company, PTT sidesteps exposure to Trump’s proposed tariffs entirely, ensuring that the group’s expansion into life sciences is not only global but also future-proofed against trade policy risks.
This acquisition has placed PTT and its group companies in a strong position to access the world’s largest pharmaceutical market directly while enhancing their R&D, manufacturing, and commercialization capabilities, in line with PTT’s new growth strategy for sustainable, long-term benefit to both the group and Thailand’s broader biomedical ambitions.
