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PTT Invests in Lotus Pharmaceutical s Strategic Partnership in South East Asia
Tuesday, April 20, 2021 10:30AM IST (5:00AM GMT)
The transaction creates a very strong platform to expand market access in the ASEAN region.
Both parties are committed to further collaboration to provide patients with better access to high quality medicines across the region.
Lotus Pharmaceutical Co., Ltd. (“Lotus” or “the Company”, Taiwan TWSE ticker: 1795), an Alvogen company, has announced the issuance of new shares through private placement to be acquired by Innobic (Asia). The move is aimed at further strengthening the company’s market access in the ASEAN region. Innobic (Asia) is a wholly owned subsidiary of PTT Public Company Limited (“PTT”, SET ticker: PTT), the largest publicly listed conglomerate in Thailand. PTT, whose majority owner is the Ministry of Finance in Thailand, is the nation s only company listed in the Fortune Global 500.
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Lotus revenue soars 31.5 percent
MAKING HEADWAY: Third quarter revenue expanded more than 46 percent, which the firm attributed to progress made in overseas markets, particularly in Asia
By Kao Shih-ching / Staff reporter
Revenue at Lotus Pharmaceutical Co Ltd (美時化學製藥) last month rose 31.5 percent annually to NT$957 million (US$33.63 million), it said in a Taiwan Stock Exchange filing yesterday.
The gain boosts its cumulative revenue to NT$9.57 billion for the first 11 months of the year, up 27 percent year-on-year, it said.
Its cumulative revenue for the January-to-November period surpassed the NT$9.2 billion it made for the whole of last year, to achieve its full-year growth target ahead of schedule, Lotus said in a statement.