Lotus Pharmaceutical Co., Ltd (“Lotus” or “the Company”, TWSE ticker: 1795) today announced that its Board of Directors approved several integration and advancement initiatives entailing a) obtaining a basket of products already registered and marketed in ASEAN countries from the Alvogen Group through Lotus’ wholly owned subsidiary in Singapore, b) dissolution and liquidation of Taiwan Alvogen, and c) appointing Regina Yeo as Vice President of Quality effective as of January 1st, 2020. These resolutions came right after the Company’s first day listed on Taiwan Stock Exchange and shall further solidify the Company’s commitment in setting new standards, delivering the highest quality product and services to patients worldwide.
Positioned as the next generation specialty pharma set to benefit from the changing climate, Lotus’ core competencies are its R&D capability in complex formulations, best quality, and the proven access to global sales network allowing shortest time-to-market. These new initiatives marked an important milestone of full integration of Taiwan Alvogen into Lotus’ domestic business and a leap forward into consolidating Alvogen’s ASEAN businesses under the Lotus umbrella. Lotus will take over, under an undisclosed sum, close to 50 products for mainly Thailand and Vietnam, including Zoledronic Acid (Aclasta), Kerecis Omega 3, several in-licensed/imported oncology products, and a couple non-prescription items such as baby lotion and DHA capsules. The expansion in portfolio diversity and footprint shall equip the Company with a stronger regional presence as it continues to grow and set the standards on a global platform
The Company also pointed out that the enabler of turnkey solution is high-quality products and believes that bringing with her over 30 years of expertise, Regina’s global leadership experiences in Janssen Pharmaceuticals (J&J) and GSK where she oversaw global quality teams is a key asset. Regina is familiar with all quality related affairs and drives to meet a diverse array of regulatory requirements in the healthcare and pharmaceutical industries.