Lotus Pharmaceutical Co., Ltd (“Lotus” or “the Company”, TWSE ticker: 1795.TT) and Finland headquartered Orion Corporation today announced that they have entered into an exclusive marketing and distribution agreement on 2 branded products indicated for the treatment of Parkinson’s disease, Stalevo® and Comtan®, in the Asia Pacific region. The agreement provides full sales and marketing control over the brands in basically every major Asian market including Taiwan, Korea, Hong Kong, Philippines, Vietnam, Indonesia and Bangladesh.
Parkinson’s disease market is worth approximately US$1.04 billion across Asia in 2018 and is estimated to be growing at a CAGR of 6.8%, reaching US$ 1.44 billion by 2023 according to Market Data Forecast. Proprietary product Stalevo® (active pharmaceutical ingredients: levodopa, carbidopa, entacapone) and Comtan® (active pharmaceutical ingredients: Entacapone) have been patented and developed by Orion and are among the most frequently prescribed medications for this patient group.
Commenting on the transaction, Lotus General Manager Petar Vazharov said:
Upon transferring the MA, the deal is expected to be closed in the 3rd quarter of 2020.