Press release by Lotus Pharmaceutical
Lotus Pharmaceutical (1795:TT), a multinational pharmaceutical company, today announced that it has received the approval for bevacizumab Alymsys® in Taiwan. This is among the first wave approvals for biosimilar of bevacizumab in Taiwan and also the Company’s first approved biosimilar product for oncology in Taiwan.
Alymsys® (bevacizumab) is a biosimilar to the cancer drug Avastin® (bevacizumab) and indicated for the treatment of various types of cancers, including colon, breast and lung cancers, as mono or combination therapy with other oncology medication. According to IQVIA data, the total sales of bevacizumab in Taiwan were approximately US$98.8 million in 2021. The overall market is expected to grow consistently by 10% a year as the number of patients continue to increase.
Petar Vazharov, Chief Executive Officer of Lotus, said: “As a global leader in the development of oral oncology products, we are excited to have Alymsys® being approved in Taiwan after Korea, further strengthening Lotus’s overall oncology portfolio with biosimilar alternatives. Following the in-house manufactured oral formulation of Vinorelbine and the in-licensed NCE Zepzelca®, the approval of biosimilar Alymsys® undoubtedly keeps our expansion into oncology in Taiwan. Lotus will continue to provide access to innovative and high-quality oncology drugs for Taiwan’s patients unmet needs.”