Petar Vazharov, Chief Executive Officer of Lotus, commented:
Lenalidomide Capsules are indicated for the treatment of multiple myeloma. As disclosed by the originator, REVLIMID® 2019 sales were around US$10bn globally.
Lotus and Alvogen settled US REVLIMID® patent litigation with Celgene on March 30th, 2019. In settlement of all outstanding claims in the litigation, Celgene has agreed to provide Lotus and Alvogen with a license to Celgene’s patents required to manufacture and sell certain volume-limited amounts of generic lenalidomide in the United States beginning on a confidential date that is some time after the March 2022 volume-limited license date that Celgene previously provided to Natco. For each consecutive twelve-month period (or part thereof) following the volume-limited entry date until January 31, 2026, the volume of generic lenalidomide sold by Lotus and Alvogen cannot exceed certain agreed-upon percentages. Although the agreed-upon percentages are confidential, they increase gradually each period to no more than a single-digit percentage in the final volume-limited period. In addition, Celgene has agreed to provide Lotus and Alvogen with a license to Celgene’s patents required to manufacture and sell an unlimited quantity of generic lenalidomide in the United States beginning no earlier than January 31, 2026.