Wessman’s Aztiq Pharma Fund Signs $475m Partnership For Lotus And Adalvo
Consortium With Thai State-Owned Innobic Will Acquire Alvogen Emerging Market Holdings
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.
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Following delays caused by the COVID pandemic, Róbert Wessman, founder and principal shareholder in the Alvo group of pharmaceutical companies, has formally opened the new London offices of his investment fund Aztiq at a ceremony in Hammersmith.
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.