PTT Public Company Limited (SET: PTT) has announced that the company has completed the acquisition of Teva Pharma (Thailand) with a transaction value of THB 1,650 million to emerge as a leading pharmaceutical business in Southeast Asia.
that on 6 June 2024, Board of Directors of Lotus Pharmaceutical Company Limited (Lotus) (PTT’s subsidiary) approved the 100% share acquisition of Teva Pharma (Thailand) Company Limited (Teva Thailand) by Lotus. On 1 August 2024, the execution of the share transfer, including the settlement of payment, was completed with the total purchased value of NTD 1,500 million or approximately THB 1,650 million. As a result, after the acquisition, Lotus holds100% shareholding of the registered capital in Teva Thailand.
The objective for the investment is to align with Lotus strategy in strengthening business to become a leader in Southeast Asia. Lotus is a fully integrated pharmaceutical company that focuses on research and development, manufacturing, and distribution of Generic drugs that cover therapeutic areas especially oncology and central nervous system diseases. This investment will enable Lotus to expand more portfolio and distribution channels into ophthalmology and respiratory into hospitals and retail pharmacies in Thailand.
Teva Pharmaceuticals, founded in 1901 and headquartered in Israel, is dedicated to developing and manufacturing innovative and high-quality medicines for individuals worldwide. With a vast portfolio exceeding 3,600 medications, Teva produces an impressive 76 billion tablets and capsules annually across its 53 manufacturing facilities dispersed throughout 33 countries. As a key player in the pharmaceutical industry, Teva operates in 60 markets globally and boasts a workforce of approximately 37,000 employees focused on their crucial mission. Their cutting-edge pharmaceuticals benefit around 200 million individuals on a daily basis.
