Aztiq Pharma Partners, a private equity company, and Innobic have acquired Alvogen Emerging Market Holdings.

The consortium becomes the leading shareholder in Lotus Pharmaceuticals, and owner of Alvogen Malta Holding, a shareholder of pharmaceutical company Adalvo.

Dr. Buranin Rattanasombat, chairman of Innobic, 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.”