Taipei, Taiwan, May 9, 2025 — Lotus Pharmaceuticals (1795:TT; “Lotus” or “the Company”), a multinational pharmaceutical company, announced its audited financial results for the first quarter ended March 31, 2025, delivering a new 1Q record in revenue and net profit, mainly driven by integration Lotus and Teva operations in Thailand, as well as strong sales growth in Vietnam and export markets.
1Q25 Financial Highlights:
- Strong Revenue Growth: Consolidated net sales increased 13% YoY to NT$4,730million, a new 1Q record.
o Asia Market Growth: Revenue increased by 12% YoY, driven by SEA market with exceptional growth of over 300% YoY.
o Export Strength: Exports grew 14% YoY, fueled by sales of lenalidomide in the U.S.
o Revenue Mix: Remained largely stable in 1Q25 compared to same time last year, where Asia accounted for 55% of total revenues, while exports contributed 45%.
- Improved Gross Margin: Gross margin rose to 61.6%, a significant 6.7ppt YoY improvement, up from 54.9% in 1Q24, supported by increased contributions from higher-margin oncology export products.
- Operating Profit and Margin: Operating profit grew 37% YoY to NT$1,715 million, with operating margin maintaining at a healthy level of 36%
- 1Q Record High Net Profit and EPS: Net profit rose 39% YoY, reaching NT$1,435 million, up from NT$1,036 million in 1Q24. Earnings per share (EPS) rose 38% YoY and climbed to NT$5.47, up from NT$3.96 in 1Q24. Both achieved new 1Q records.
Leadership Comments
Petar Vazharov, Chief Executive Officer of Lotus, commented: “The first quarter of 2025 marks a robust start of the year for Lotus. We delivered our highest 1Q revenue and earnings, while solidify our geographical footprint and pipeline. Our strong performance reflects the strong execution of our growth strategy, the successful integration of our Southeast Asia acquisitions, and our continued investment in high-value specialty and generic medicines.”
Operational Results for the Year Ending March 31, 2025
Revenue breakdown:
- Consolidated Net Sales: Consolidated net sales grew 13% YoY to NT$4,730 million (1Q24: NT$4,198 million).
o In Asia, revenue increased 12% YoY mainly driven by the Thailand and Vietnam markets. The successful integration of Lotus & Teva operations in Thailand and the robust launch of Alphachymotrypsine Choay® in Vietnam led to YoY growth of ~480% and ~750% in these regions, respectively.
o In export markets, revenues increased 14% YoY, driven by sales of lenalidomide to the U.S.. This was partially offset by a decline in exports to areas outside of the U.S.
Gross Margin and Expenses
- Gross Margin improved to 61.6% (1Q24: 54.9%), supported by a favorable product mix, including higher-margin oncology exports and branded offerings in Asia.
- R&D Expenses: Increased 24% YoY to NT$145 million due to increase of labor costs.
- SG&A Expenses: increased 13% YoY, mainly driven by additional costs related to the acquired businesses in Thailand and Vietnam.
Earnings
- EPS: Reached NT$5.47 for 1Q25, a 38% YoY increase from NT$3.96 in 1Q24.
1Q25 Key Business Achievements
Research & Development
- There are currently 26 ongoing projects, focusing on areas of oncology and immunology.
Regulatory: 21 filings, gained 25 market approvals, 28 SKUs (10 INN) launched.
- Key launches
o Alpha Choay in Vietnam
o Darbepoetin alfa (biosimilar of Aranesp ®) in South Korea.
- Achieved key submission and approval for high-value products, including:
o Soft gel form of voclosporin submitted to US FDA, a potential FTF product
o Adcirca (tadalafil) approved in Taiwan, the first and the only Class I therapy in combination with endothelin receptor antagonists (ERAs) for first-line treatment.
o Enzalutamide approved in Korea.
o Pomalidomide approved in EU and launched in UK.
Business Development (BD)
- 42 deals under advanced discussions;
o Oncology and Immunology projects remain our core focus, representing 18 BD pipeline projects, closely followed by 15 projects in Primary Care and Lifestyle.
o Maintained a balanced portfolio of product type to mitigate risk profile and building long-term value; pipelines include NCE/NBE (43%), generics (19%), 505(b)(2) products(10%), biosimilars (10%), tail-end big pharma brand (10%)and co-development projects (10%).
Conference call and earnings material
There will a live audio conference call in Mandarin (hosted by KGI Securities) and in English on 21 May 2025 (hosted by Morgan Stanley Securities) to review the Lotus Pharmaceutical's financial results for 1Q25 and business outlook for 2025.
About Lotus
Founded in 1966, Lotus (1795: TT) is an international pharmaceutical company with a global presence, focused on commercializing both novel and generic pharmaceuticals to provide patients with better, safer, and more accessible medicines. The company boasts a best-in-class R&D and manufacturing platform in Asia, certified by leading regulatory authorities around the world, including the US FDA, EU EMA, Japan PMDA, China FDA, and Brazil ANVISA. Lotus has established partnerships in nearly every major global market, including the U.S., Europe, Japan, China, and Brazil. The company is currently developing and registering over 100 strategically selected pharmaceutical projects across Asia and the U.S., with more than 250 commercial products. Lotus invests in a diversified portfolio, consisting of high-barrier oncology, complex generics, 505(b)2, NCEs, and biosimilars, through both internal R&D investments and licensing-in partnerships to strengthen its portfolio competitiveness
Media Inquiries:
Jeffrey Tsang, Head of Investor Relations and Corporate Communications.
+886 2 2700 5908
investor@lotuspharm.com