BANGKOK : Thailand's state-owned oil firm PTT is set to expand further into pharmaceuticals as part of a consortium acquiring a unit of drugmaker Alvogen, the parent of Taiwan's Lotus Pharmaceutical, PTT said on Friday.
A consortium of PTT and Icelandic investment fund Aztiq have agreed a US$475 million purchase of Alvogen Emerging Markets Holdings Ltd, which holds a 57.48per cent stake in Lotus, according to Refinitiv Eikon.PTT said it will have a 37per cent indirect shareholding in Lotus - which makes drugs to treat cancer, cardiovascular disease and mental diseases - when the deal closes in the first quarter of 2022 and 60per cent of Adalvo.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla to invest US$188 million to expand Shanghai factory capacity: ReportSHANGHAI : Tesla plans to invest up to 1.2 billion yuan (US$187.91 million) to expand production capacity at its Shanghai factory in a project that will last from December to April next year, the state-backed Beijing Daily newspaper reported. The newspaper attributed the information to documents Tesla file
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Source: BusinessTimes - 🏆 15. / 51 Read more »
Expanded eligibility boosts US COVID-19 booster shots ahead of holidaysMillions of Americans got COVID-19 booster shots at a near record pace after the Biden administration expanded eligibility last week, but health officials concerned about climbing infections ahead of
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US puts Chinese firms helping military on trade blacklistWASHINGTON: The US Commerce Department put a dozen Chinese companies on its trade blacklist on Wednesday citing national security concerns and in some cases their help with the Chinese military\u0027s quantum computing efforts. The department also said 16 entities and individuals from China and Pakistan we
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Singapore affiliate of Chinese firm Corad Technology placed on US trade blacklistSINGAPORE: A Singapore affiliate of Chinese firm Corad Technology Limited was on Wednesday (Nov 24) placed on a US government trade blacklist over national security and foreign policy concerns. The affiliate, Corad Technology Pte Ltd, was among
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US to sell 32 million bbls of mostly sour crude from 4 SPR sitesThe United States has launched an auction for 32 million barrels of crude from four strategic petroleum reserves (SPR) sites to be delivered between late-December and April 2022, the Department of Energy (DOE) said.The sale of SPR oil, which is mainly blended sour crude, is expected to depress the value o bbls? Is that 'bubbles'? Or maybe 'Bounce Back Loan Scheme'?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »