PTT Public Company Limited (SET: PTT) has successfully completed the acquisition of New Alvogen Group Holdings Inc. (Alvogen US) through its associated entity, Lotus Pharmaceutical Company Limited (Lotus), with the transaction successfully closing on 3 December 2025. The acquisition, which aligns with the PTT Group’s Life Sciences business strategy, was executed through Innobic (Asia) Company Limited (INBA), a wholly-owned subsidiary of PTT and major shareholder of Lotus.
This strategic move is expected to create long-term benefits for both the PTT Group and Thailand. Alvogen US specialises in the research, development, manufacturing, and marketing of specialty pharmaceutical products in the United States. By securing Alvogen US, Lotus gains crucial access to the U.S. market, which is recognised as the largest pharmaceutical market globally. This acquisition will also strengthen Lotus’s capabilities across R&D, manufacturing, and commercialization.
Simultaneously, PTT has commenced a previously approved transaction to sell up to 2% of Lotus’s shares on the Taiwan Stock Exchange Corporation (TWSE). As a result of this shareholding restructure, Lotus will be reclassified from a subsidiary company to an associated company of PTT within the fourth quarter of 2025.
