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Lotus Continued Stelar Growth in 2Q 2023 EPS Recorded NTD 4.85 with 285% Growth Year on Year

11 August 2023

Taipei, Taiwan,  August 11, 2023 -- Lotus Pharmaceuticals (1795:TT; “Lotus” or “the Company”), a multinational pharmaceutical company, reported Q2 2023 audited financial results.

Q2 2023 financial highlights:

  • Lotus delivered another successful quarter in Q2 ’23.  Net revenues of the 2nd quarter were NTD 4,442 million, comparable to those of the first quarter.  EPS reached NTD 4.85, with a 285% growth YoY, representing a beat of the market consensus.
  • Q2 consolidated revenue grew 53% year over year, revenue evenly split between the Asian and Export businesses.

   -Asian businesses grew 15% YoY, where Taiwan businesses grew 71%, Korean 3%, the rest of Asia 3%

   -Exports outside of Asia surged 125% in revenue this quarter, compared with the prior year.  Strong demand of Lenalidomide and resilient performance of the US anti-opiate addiction product Buprenorphine/Naloxone were the main drivers.

  • Q2 Gross profit was NTD 2,606 million with remarkable 89% growth YoY. Gross margin of the quarter remained steady at 59%.
  • Operating expenses remained stable at NTD 992 million, comparable with the previous quarter; Operating profit was NTD 1,613 million with an operating margin of 36%.
  • Q2 EPS was NTD 4.85, 6% higher than the previous quarter and record high for the second quarter.
  • First half of 2023 consolidated revenue grew 48% YoY, reaching NTD 8,966 million.  First half EPS soared 217% YoY to NTD 9.43.


Q2 2023 Business highlights:

  • New Launches: 13 SKUs launched by Asian businesses, the osteoporosis biosimilar Teriparatide in Thailand, and 20 SKUs launched in export markets, including multiple myeloma 2nd line treatment Pomalidomide and Vinorelbine softgel in New Zealand
  • Regulatory Progress: Lotus had 16 MA approvals in Q2. Notably were the approval of Pomalidomide in Canada, Zepzelca® and Midostaurin approval in Taiwan, Enzalutamide approval in Brazil.
  • Business Development: Acquired global right to develop and commercialize suicidal bipolar therapy NRX-101. There were 9 business development deals signed in second quarter.
  • Licensing-Out Deals: There were 11 further licensing-out deals signed during the 2nd quarter ’23.


Dr. Petar Vazharov, Chief Executive Officer of Lotus, stated, "I am incredibly proud to announce our outstanding results in the first half of 2023 and the remarkable progress of our portfolio. Through strategic alliance with our partners and our dedication to R&D and business development, we have achieved unprecedented success, solidifying our transformation from a pureplay generic company to a hybrid pharmaceutical company with diversified novel pipeline. This achievement is a testament to the hard work and commitment of every member of our team, whose relentless pursuit of excellence has driven us forward. I As we celebrate these milestones, we remain resolutely focused on our mission to provide therapies for unmet medical needs of patients around the world, ever determined to exceed expectations and continue our journey of growth and success."

About Lotus

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. 


Forward looking statements disclaimer

Except for historical information contained herein, the matters set forth in this document are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are not based on historical facts but rather on management’s expectations regarding future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Statements in this presentation about our future plans and intentions, results, level of activities, performance, goals or achievements or other future events constitute forward looking statements. Wherever possible, words such as “anticipate”, “believe”, “expect”, “may”, “could”, “will”, “potential”, “intend”, “estimate”, “should”, “plan”, “predict”, or the negative or other variations of statements reflect management’s current beliefs and assumptions and are based on the information currently available to our management. Investors are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this document and we assume no obligation to update or revise any forward-looking statements.


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