Lotus Pharmaceutical (1795:TT), a multinational pharmaceutical company, today announced that Alvogen US, its first equity investment in the US focused on developing, manufacturing and selling generic and branded products, received an official notification of a favorable district court ruling for Alvogen US’s proposed generic to Xifaxan®, a treatment for irritable bowel syndrome with diarrhea (IBS-D).
“We are extremely pleased with the district court’s decision, which brings us one step closer to bringing a more affordable alternative to patients taking Xifaxan for IBS-D,” said Lisa Graver, Chief Executive Officer of Alvogen US.
Petar Vazharov, Chief Executive Officer of Lotus, also added: “Being a shareholder and a long-term business partner of Alvogen US, we are very excited with this development. We will also be exploring the possibilities to bring the product into Asian markets to help more patients around the world with a more affordable alternative.”
Alvogen US, started as a domestic CMO back in 2009, and now is a leading US-based company with full capabilities from research and development, manufacturing, to commercialization of a diversified portfolio covering complex generics, 505(b)2 branded products, injectables, and peptides. It has grown rapidly through internal R&D investment and third-party business development. Alvogen US currently has over 50 products on market, including Buprenorphine/Naloxone Film which it partnered with Lotus on to become one of the first to launch a generic in the US, and has several other first-to-market products including the first generic to launch Tamiflu® in the US.