Róbert Wessman-led Aztiq and Innobic join forces in $475m acquisition of Lotus Pharmaceutical and Adalvo to create a global pharmaceutical powerhouse - Seite 2

shareholders will provide Lotus and Adalvo with a competitive advantage in a
thriving industry, enabling them to extend their leadership globally. Both
companies share the mission of making high-quality medicines accessible to
patients around the world, and with the expertise and resources that will be
readily available to them, they will accelerate progress towards this goal. From
oral oncology to research innovation in over-the-counter products, Lotus and
Adalvo will together pave the way for greater global access to first-class
treatments and medication.

Róbert 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 the transformation of both Lotus and Adalvo, and at the same time to
welcome our new partner Innobic as we look forward to carrying out the essential
work of expanding access to medicines to more people who need them. With our
vast collective expertise, and the comprehensive geographic networks and solid
market intelligence in ASEAN brought by innobic and PTT, I believe that Lotus
and Adalvo will have a compelling competitive advantage, enabling both
enterprises to support one another and advance their global leadership in their
sectors."

Dr. Buranin Rattanasombat, senior executive vice president, innovation and new
ventures, PTT and chairman of Innobic (Asia), commented: " This partnership will
accelerate our goal and enable Innobic to leap into being a fully integrated
pharmaceutical company. By being the major shareholder in Lotus Pharmaceutical
jointly with Aztiq, Innobic will have access to the capability of operating a
full suite of pharmaceutical business with a primary focus on generic in many
key disease areas, specially oncology and neurological disease. This investment,
together with the global networks of Adalvo,will strengthen access to high
quality medicines in region and is a major milestone for our life sciences
business and its mission to advance public health and the pharmaceutical
industry in Thailand and the region."

Tomas Ekman, Director of the Board, Alvogen Lux, commented: "After 7 years as
the lead shareholder of Lotus and the broader Asian business, Alvogen concluded
that now is the right time to monetize our investment and letting Aztiq and
Innobic continue the journey Lotus is on. Both Adalvo and Lotus will continue to
collaborate closely with the Alvogen group of companies. Today's announcement is
consistent with Alvogen's strategic focus and we intend to deploy the proceeds
from the transaction in line with our capital allocation priorities to maximize