Seoul, South Korea, September 18, 2023 – Leading global pharmaceutical company, Lotus Pharmaceutical (1795:TT), joins hands with the leading B2B pharma player, Adalvo, to proudly announce the introduction of Gabapentin ER 300 / 600 mg in South Korea.
This 505b(2) product, derived from the reference brand Neurontin Hard Capsule 300mg and Neurontin Film Coated Tablet 600mg, is designed to provide long lasting relief to individuals grappling with Postherpetic Neuralgia (PHN). PHN, a debilitating condition, can significantly diminish one's quality of life. Gabapentin ER, with its convenient once-daily dosing regimen, offers meaningful improvement of patient convenience.
Gabapentin ER obtained the MFDS (Korean Ministry of Food and Drug Safety) approval in March 2023. Thanks to the collaboration between Lotus and Adalvo, the product has been officially launched with remarkable efficiency.
The Gabapentin molecule boosts a global market valuation of US$1.24 billion, with total sales in Korea estimated to reach US$36 million, as reported by IQVIA in 2022.
Anil Okay, CEO of Adalvo, expressed, "Through our collaboration with Lotus Pharma, we've not only utilised our combined expertise but also leveraged our mutual commitment to innovation within the pharmaceutical industry. This launch not only underscores our dedication to offering effective treatment options but also highlights the exceptional synergy between Adalvo and Lotus Pharma. Collectively, we've laid a robust groundwork for delivering invaluable and accessible medicine to patients around the globe."
Petar Vazharov, CEO of Lotus, added, "We are proud to announce the highly anticipated launch of Gralise ER (Extended-Release) in South Korea. The launch of this product not only significantly enhances Lotus’ offering in the field of neurology in Korea, but also demonstrates Lotus’ ability to add more innovative and complex products to its portfolio. This is another milestone in our transformation from a pure-play generic company in Asia to a global pharma platform with well diversified portfolio including generics, Brands, New Chemical Entities (NCEs), 505b(2)s and other complex pharma products.”
Founded in 1966, Lotus (1795: TT) is an international pharmaceutical company with global presence, focused on commercializing novel and generic pharmaceuticals, offering patients better, safe and more accessible medicines. The Company has a recognized best-in-class R&D and manufacturing platform in Asia and has established partnerships in nearly every global market including the U.S., Europe, Japan, China, and Brazil. Lotus runs over 100 strategically selected pharmaceutical projects in development and registrations across Asia and the US, with over 250 commercial products. The Company invests in diversified best portfolio consisting of high-barrier oncology, complex generics as well as 505(b)2 and NCE via internal R&D investment and licensing-in partnership, and also strengthens its portfolio competitiveness by adding biosimilar products with support from strategic partners. Its industry-leading infrastructure certified by most of the advanced regulatory authorities around the world, including US FDA, EU EMA, Japan PMDA, China FDA, and Brazil ANVISA.
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Susan Liao, Head of Investor Relations
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