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Health & Medical

Robert Wessman-led Aztiq completes $500 million transaction in an alliance with Innobic to create an international pharma powerhouse


– The Consortium jointly, through Aztiq II HoldCo, has completed the acquisition of a 100% stake in Alvogen Emerging Markets Holdings Limited, thereby becoming the leading shareholders in Lotus Pharmaceuticals and Adalvo
– Robert Wessman, Chairman and CEO of Alvogen and Founder of Aztiq Pharma Partners, will continue as Chairman of the board of Lotus and Adalvo.
– The Consortium’s collective industry experience, geographic reach, and commitment to sustainable development, creates a unique alliance of investors and leaders, with the financial strength to support the companies’ continued development.

Aztiq Pharma Partners (“Aztiq”), a private equity company led by Alvogen Founder and Chairman Robert Wessman, and Innobic (Asia) Company Limited (“Innobic”) have completed the acquisition of a 100% stake in Alvogen Emerging Market Holdings Limited (“AEMH”) from its existing shareholders in a $500 million deal to form a Pharma powerhouse with resources, networks and reach across the globe.

With this deal, which is one of the largest pharma transactions in the world this year, the consortium becomes the leading shareholder in the global oncology pharmaceutical company Lotus Pharmaceuticals (“Lotus”, TWSE ticker: 1795), and the owner of 100% shares in Alvogen Malta Holding Ltd., the shareholder of a fast-growing global business to business (B2B) pharmaceutical company Adalvo.

AEMH was previously owned by Alvogen Lux Holdings Sarl (“Alvogen”). Key shareholders in Alvogen include CVC Capital Partners and Temasek Holdings of Singapore, as well as Aztiq. Alvogen will remain a leading shareholder in the generics pharmaceutical company Alvogen US, including specialty pharma company Almatica, as well as being the second largest shareholder in global biosimilar company Alvotech.

The expertise that the members of the consortium bring is impressive: Robert Wessman has successfully grown private equity firm Aztiq from a small local business to a regional contender. Innobic is owned by the largest conglomerate in Thailand, PTT Group, and has built extensive commercial and business networks in the fast-growing ASEAN countries.

Aztiq is led by Robert Wessman, who will continue to serve as Chairman of the Board of Lotus and Adalvo.

This unique market knowledge along with strong support from shareholders will provide Lotus and Adalvo with a competitive advantage in a thriving industry, enabling them to become global leaders in the pharma industry. Both companies have the shared goal of making high-quality medicines accessible to patients around the world and with the expertise and resources that will be readily available to them, this goal will be further accelerated. From oral oncology to research for innovation to over-the-counter products, together Lotus and Adalvo will pave the way for global access to first-class treatments and medication.

Robert Wessman, Chairman and CEO of Alvogen and Founder of Aztiq, commented: “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 of both Lotus and Adalvo 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 the strong expertise which all parties bring. With the comprehensive geographic networks and solid market intelligence in ASEAN brought by PTT and Innobic, I believe that Lotus and Adalvo will have a compelling competitive advantage, which enables both Lotus and Adalvo to become global leaders in their sectors.”

Dr. Buranin Rattanasombat, Senior Executive Vice President, Innovation and New Ventures, PTT and Chairman of Innobic (Asia), commented: I am very pleased with the success of this transaction, remarking this step as the beginning of the next chapter for the collaboration. Innobic is committed to explore and develop transformative therapies that improve access for patients in the Region. This collaboration will strengthen and enhance Lotus’ competitiveness and Adalvo pharma presence in ASEAN and globally.”

About Aztiq
Aztiq is a long-term healthcare investor led by Alvogen’s and Alvotech’s Founder and Chairman Robert Wessman. Aztiq, whose key investment focus is on pharmaceutical assets, is currently a leading and co-leading shareholder and operator of the following pharmaceutical assets:

Lotus – A leading global pharmaceutical company (
Adalvo – Global B2B pharmaceutical company (
Alvotech – A global biosimilar company (
Alvogen US / Almatica – US generics (Gx) and Specialty Pharmaceutical company. ( /

Established in 2009, Aztiq was founded on the principle that everyone should have the right to medicine, regardless of their financial means.

Robert Wessman, has led over 50 strategic acquisitions and partnerships and established operations in over 60 countries. Wessman, alongside his seasoned team in Aztiq, continues to successfully launch and scale both industry-leading generic pharmaceutical and biosimilar companies all over the world.

Media Enquiries:
Lara Omarsdottir
+354 659 9166

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Source: Aztiq

Source: Aztiq