Taipei, Taiwan, October 11, 2024 — Lotus Pharmaceutical Co., Ltd. (Taiwan Stock Exchange: 1795), a global pharmaceutical leader headquartered in Taiwan, announced its unaudited consolidated revenue for September 2024, totaling NT$1,187 million. This concludes 3Q24 revenue of NT$ 5,234 million, presenting an impressive 10.4% quarter-over-quarter (QoQ) growth and a 14.5% increase year-over-year (YoY).
In 3Q24, the company’s export revenue grew by 16% QoQ and 32% YoY, driven by strong demand for oncology products outside the US market and continued lenalidomide sales in the US. Key product Lenalidomide sales in the US increase more than 100% YoY this quarter. This substantial growth effectively balanced the impact of gSuboxone's price competition and market share loss. Revenue from Asia increased by approximately 5% QoQ and remained consistent with 3Q23 levels.
In 2024, Lotus has announced two strategic acquisitions in Southeast Asia, strengthening its presence in the region. Following the acquisition of Teva pharma Thailand, the company’s Thailand revenue surged by more than 200% YoY in 3Q24. The recent acquisition of Alpha Choay®, a widely used anti-inflammatory product in Vietnam and Cambodia, generated over US$22 million in sales in 2023. Lotus anticipates recognizing sales from Alpha Choay® by 1H 2025. The company is actively pursuing several additional acquisitions in Southeast Asia, including branded and generic portfolios, as part of its strategy to expand SEA revenue fivefold within the next 3 to 5 years. Lotus continues to demonstrate strong performance in key global markets, reinforcing its position as a leading player in the pharmaceutical sector.
About Lotus
Founded in 1966, Lotus (1795: TT) is a global pharmaceutical company focused on delivering novel and generic medicines that are safer, better, and more accessible. With a best-in-class R&D and manufacturing platform in Asia, Lotus has partnerships in key markets including the U.S., Europe, Japan, China, and Brazil. The company manages over 100 strategic projects in development and registration across Asia and the U.S., with a portfolio of more than 250 commercial products. Lotus invests in a diversified pipeline of high-barrier oncology treatments, complex generics, 505(b)2 products, and new chemical entities (NCEs), through internal R&D and licensing partnerships. Additionally, it bolsters its portfolio with biosimilars, supported by strategic alliances. Lotus's facilities are certified by top regulatory bodies, including the US FDA, EU EMA, Japan PMDA, China FDA, and Brazil ANVISA.
Media Inquiries:
Yu-ying Yang, Associate Director, Corporate communication.
+886 2 2700 5908
investor@lotuspharm.com