Wessman’s Aztiq Pharma Fund Signs $475m Partnership For Lotus And Adalvo

Consortium With Thai State-Owned Innobic Will Acquire Alvogen Emerging Market Holdings

 
• By Dean Rudge

Aztiq and Innobic aim to create a “powerful pharmaceuticals enterprise with global resources, networks and reach” after signing a definitive agreement to become the leading shareholders in Lotus Pharmaceutical and the sole shareholder in B2B firm Adalvo.

sales surge
Both Lotus and Adalvo have grown in recent years • Source: Shutterstock

Two Alvogen subsidiaries, Taiwan-based Lotus Pharmaceutical Co. Ltd. and the business-to-business division Adalvo, are to pass into the hands of Alvogen CEO Robert Wessman’s Aztiq Pharma private equity fund via a $475m acquisition agreement in partnership with the Thai state-owned conglomerate PTT group.

Aztiq and PTT’s pharmaceutical and life sciences arm Innobic have signed a definitive agreement to acquire a 100% stake in Alvogen Emerging Market Holdings Limited from its existing shareholders, meaning the consortium will become the leading shareholders in

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