The Consortium jointly, through Aztiq II HoldCo, will acquire a 100% stake in
The Consortium's collective industry experience, geographical reach, and commitment to sustainable development, creates a unique alliance of investors and leaders, with the financial strength to support the companies continued development.
The
With this transaction the consortium becomes the leading shareholder in the global oncology pharmaceutical company
I am very proud to have witnessed the maturation of both Lotus and Adalvo. I would like to take this opportunity to thank the existing shareholders for their great support in transformation and at the same time I would like to welcome our new partner as we look forward to carrying out the essential work of expanding access to medicines with strong expertise collectively by all parties. With the comprehensive geographic networks and solid market intelligence in
Chairman and CEO of Alvogen/ Founder of Aztiq
After seven years as the lead shareholder of Lotus and the broader Asian business, Alvogen concluded that now is the right time to monetize our investment and letting Aztiq and Innobic continue the journey Lotus is on. Both Adalvo and Lotus will continue to collaborate closely with the Alvogen group of companies. Today's announcement is consistent with Alvogen's strategic focus and we intend to deploy the proceeds from the transaction in line with our capital allocation priorities to maximize shareholder value.
Director of the Board, Alvogen Lux Holding Sarl
This partnership will accelerate our goal and enable Innobic to leap into being a fully integrated pharmaceutical company. By being the major shareholder in Lotus jointly with Aztiq, Innobic will have access to the capability of operating a full suite of pharmaceutical business, ranging from research, development, and formulation to production and commercialization, with a primary focus on generic drugs covering a wide range of therapeutic areas, in particular, oncology and central nervous system. The strengthened access to high quality medicines, together with the global networks and commercialization capability of Adalvo, and Innobic's support to further expand the pharmaceutical businesses in the
DR. BURANIN RATTANASOMBAT
Senior Executive Vice President,
Alvogen acquired a majority stake in Lotus in 2014 and together with its shareholders, Lotus has evolved into a next generation pharmaceuticals company focused on global oncology with direct market access in more than 10 countries in
Alvogen has further developed Adalvo in 2018 from an in-house B2B platform into a separate business unit focusing on global markets. In a short period of time, Adalvo has achieved a remarkable growth with over 500 transactions and a world class portfolio of 60 differentiated medicines and is currently one of the fastest growing B2B pharmaceutical company globally, serving its partners and patients in over 100 markets around the world.
In April of 2021, Innobic invested approximately
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