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Lotus Pharmaceutical Acquires Teva's Thai Subsidiary for NT$1.5 Billion, Expanding Southeast Asian FootprintJun 07, 2024

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On the evening of June 6, Lotus Pharmaceutical  announced that its board had approved the acquisition of the Thai subsidiary and business of the global generic drug giant, Teva Pharmaceuticals, for NT$1.5 billion. This acquisition is expected to be completed in the third quarter of 2024. 

According to Lotus's announcement, they will acquire a 90% stake in Teva Pharmaceuticals' Thai subsidiary, while the remaining 10% will be acquired by Lotus’s wholly-owned subsidiary, Lotus International Pte Ltd. The transaction amounts are capped at NT$1.5 billion and USD 5 million (approximately NT$161.52 million), respectively. 

Upon completion of this acquisition, Teva's Thai subsidiary will become a wholly-owned subsidiary of Lotus Pharmaceutical . Lotus will take over the sales of Teva's existing products in Thailand. 

This acquisition not only expands Lotus's product lines in the fields of oncology and women's health but also grants Lotus access to Teva's ophthalmology and respiratory products. This includes NATEAR, the leading ophthalmic product in the local market, enabling Lotus to enter the Thai pharmacy channel. Post-acquisition, Lotus's team in Thailand will grow to nearly 100 members, enhancing its coverage in hospitals and pharmacies. 

Petar Vazharov, General Manager of Lotus Pharmaceutical , stated that this acquisition marks a significant milestone in Lotus's expansion into Southeast Asia. It is also a crucial step towards Lotus becoming a leading pharmaceutical company in the Asia-Pacific region. 

He added that integrating Teva's Thai subsidiary strengthens Lotus's product portfolio, laying a solid foundation for future profit growth. This move underscores Lotus's commitment to improving healthcare accessibility and expanding its business in Southeast Asia. 

Lotus explained that Teva's Thai subsidiary, based in Bangkok, operates with a professional team of about 80 members. The subsidiary focuses on promoting high-quality generic drugs, providing affordable medical solutions to the local market. Key therapeutic areas include ophthalmology, respiratory, immunology, and oncology. 

Resource (mandarin):

美時製藥15億元收購 Teva 泰國子公司 擴大東南亞版圖