Róbert Wessman-led Aztiq and Innobic join forces in $475m acquisition of Lotus Pharmaceutical and Adalvo to create a global pharmaceutical powerhouse

Reykjavík, Iceland (ots/PRNewswire) - - The Aztiq-Innobic consortium will
acquire a 100% stake in Alvogen Emerging Markets Holdings Limited, thereby
becoming the leading shareholders in Lotus Pharmaceutical and the sole
shareholder in Adalvo

- Róbert Wessman , chairman and CEO of Alvogen and founder of Aztiq, will
continue as chairman of the board of Lotus and Adalvo.

- The consortium creates a unique alliance of leaders and investors with the
industry experience, geographical reach, commitment to sustainable development
and financial strength to accelerate the companies' development

Aztiq (https://www.aztiqfinance.com/) ("Aztiq"), a healthcare investor led by
Alvogen Founder and Chairman Róbert Wessman, and Innobic (Asia) Company Limited
("Innobic"), (https://innobicasia.com/corporate-profile/direction) a life
sciences subsidiary of Thailand industrial group PTT, today announced the
signing of a definitive agreement to acquire a 100% stake in Alvogen Emerging
Market Holdings Limited ("AEMH") from its existing shareholders for $475
million. The aim of the alliance between Aztiq and Innobic and the transaction
is to create a powerful pharmaceuticals enterprise with global resources,
networks and reach.

Through the transaction, one of the largest in the sector this year, the
consortium becomes the leading shareholder in the global oncology pharmaceutical
company Lotus Pharmaceutical ("Lotus", TWSE ticker: 1795), and the sole
shareholder in Alvogen Malta Holding Ltd., the owner of the fast-growing global
business to business (B2B) pharmaceutical company Adalvo.

AEMH is currently 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
generic pharmaceutical company Alvogen US, including specialty pharma company
Almatica (https://almatica.com/) , as well as the second largest shareholder in
global biosimilars company Alvotech. (https://www.alvotech.com/)

The members of the consortium bring impressive and complementary leadership and
expertise. Róbert Wessman has over the last six years successfully led the
transformation of Lotus from a small local Taiwanese company into a leading
generic ora oncology company. Innobic's parent company PTT Group is Thailand's
largest industrial conglomerate, with extensive commercial and business networks
across the fast-growing ASEAN countries.

Aztiq's founder and chairman, Róbert Wessman, will continue to serve as chairman
of the board of both Lotus and Adalvo.

This consortium's unique market knowledge along with strong support from