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Lotus Pharmaceutical overseas drug sales spike in Q1 & Q2

Lotus Pharmaceutical embraced a record growth in the share price which rose 18% in a week to TWD$134.5 per share. Lotus is a giant in manufacturing generic products, recently it registered the billion-dollar revenue generated from drug exports, licensing and manufacturing contracts.

Buprenorphine/naloxone sublingual tablet, a medication by Lotus to treat certain types of drug dependence, is the top-seller of its kind in the US, driving Lotus’ overseas drug sales up from 35% to 55%, including one of its cancer drugs- Lenalidomide.

With the settlement of patent litigation for Lenalidomide, the drug has been granted provisional approval by FDA and is expected to market in the US by 2022. Lenalidomide currently has limited competitors in the US, which will be in favour of its year-on-year pricing and growth in revenue.

In addition to taking over more than 60 drug permits in SEA nations from its parent company, Alvogen, Lotus has also taken a stake in a Thai company, Innobic (Asia), through a private equity investment to develop high-value products, such as cancer drugs, neurological drugs and drugs for immune system.

Lotus locks in the SEA region for rationales- the pharmaceutical industry there is on the low threshold of technology in manufacturing, coupled with the region’s reliance on imports for 70% of pharmaceutical products.

Lotus posted TWD$3.67bn in revenue in Q2, 2021, marked the growth for the fifth consecutive quarter and broke a record for a single quarter. The revenue was up 10.59% by quarter, 37.32% year-on-year, closing at TWD$7bn in the first half of 2021 with an annual increase of 48.58%.

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