Published by
The Bangkok Post
The Bangkok Post
National oil and gas conglomerate PTT has taken a significant step into the pharmaceutical sector by teaming up with the Aztiq Fund to buy out Alvogen Emerging Markets Holdings (AEMH), increasing PTT’s shareholding in Taiwan-based Lotus Pharmaceutical Co to 37% from 6.6%. AEMH was a major shareholder of Lotus Pharmaceutical. The share purchase deal, worth US$475 million (16 billion baht), will make Innobic (Asia), a wholly-owned subsidiary and life science arm of PTT, a major shareholder in Lotus Pharmaceutical. The transaction is scheduled to be completed within the first quarter of next year…
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