Alvogen’s Lotus Bags $50m Investment To Boost Access In Asia
Taiwan-Based Company Issues 17m New Shares
Lotus Pharmaceuticals aims to build a stronghold in Thailand and beyond, after the Alvogen subsidiary announced a partnership with a subsidiary of Thai state-owned conglomerate PTT, which includes a $50m capital injection.
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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.
After a year that has seen Alvogen divest its central and eastern Europe business to Zentiva and rebrand its B2B unit as Adalvo, the group has also demonstrated the resilience of its supply chain in the face of upheaval caused by the coronavirus pandemic, chairman and CEO Robert Wessman tells Generics Bulletin in the second part of an exclusive interview.
Lotus Pharmaceuticals has expanded its biosimilar pipeline to five by bringing in rights in Taiwan and South East Asia markets to Chong Kun Dang Pharmaceutical’s biosimilar of Kyowa Kirin’s Nesp (darbepoetin alfa).