Taiwan-based Lotus Pharmaceuticals has announced the acquisition of Thailand business and commercial entity of Teva pharma.

The acquisition is targeted for completion by Q3 2024. Upon finalisation, Teva Pharma Thailand will transition into a wholly owned subsidiary of Lotus and Lotus will undertake the sales and marketing of existing products of Teva Pharma Thailand. 

Following the acquisition, besides further expanding Lotus’ oncology & women’s health products, Lotus will gain access to Teva’s ophthalmic and respiratory portfolio, including leading ophthalmic products such as NATEAR, enabling Lotus to venture into pharmacy channels in Thailand. 

Following the acquisition, Lotus will expand its Thailand operation team to nearly 100 members, increasing its coverage in both hospital and pharmacy channels.

"This acquisition marks a significant milestone for Lotus as we continue to reinforce our presence across Southeast Asia and is a step towards our aspiration of becoming a leading player in Asia Pacific" remarked Petar Vazharov, CEO of Lotus Pharmaceuticals. "By integrating Teva Pharma Thailand into our operations, we strengthen our generics and specialty product offerings, laying a solid foundation for sustained profit growth in the years ahead."