Lotus Pharmaceutical Co., Ltd (“Lotus” or “the Company”, Taiwan OTC ticker: 1795) today announced the launch of Gveza (Drospirenone/Ethinylestradiol 3mg/0.03mg) in Taiwan through an in-licensing deal with a renowned European hormonal products manufacturer. Lotus aims to become the leading generics choice of women healthcare by building its franchise through both in-house R&D and marketing alliances.
Quoting IMS Health statistics, Lotus pointed out that the addressable market of oral contraceptives is roughly NT$ 250 million and has been stable for the past few years. Among oral contraceptives in Taiwan, Drospirenone/Ethinylestradiol is the latest generation of progesterone which causes least side effects such as edema and weight gain and therefore most widely prescribed. Commenting on the new product launch, Lotus General Manager Jefferson Wang said, “Lotus has always been actively identifying key specialty generics needs in the APAC region. We have 2 models for our new launches – self-developed and in-licensed. We take pride in introducing top quality generics through both ways. Our goal is to build a Lotus women healthcare franchise with double-digit market share in Taiwan in 5 years.” Lotus has seen around 50% of growth year-to-date for its Taiwan domestic business from a steady flow of new product launches this year.
Lotus Chairman Andrew Lin also said that Lotus has solid hormonal drug development and manufacturing record. “The Company launched Apano (Mifepristone) 15 years ago, and has been exporting Lillian (Levonorgestrel) to the US in recent years. Additionally, our Korean arm Alvogen Korea became the market share leader of oral contraceptives there upon acquiring Mercilon (Desogestrel/Ethinylestradiol) from the originator last year.” With the launch of Gveza (Drospirenone/Ethinylestradiol 3mg/0.03mg), Lotus officially is en route to polishing its women healthcare brand in several key markets leveraging brand assets of Alvogen. The Company has also submitted low dose Desogestrel/Ethinylestradiol to TFDA and expects to strengthen oral contraceptive product line when the approval comes.