July 10th , 2023, Taipei -- Lotus Pharmaceutical Co., Ltd. ("Lotus" or "the Company," Taiwan TWSE ticker: 1795) has reported its unaudited consolidated revenues for June 2023, amounting to approximately NT$1,103million, representing a 6% increase compared to the same period last year. The accumulated unaudited consolidated revenue for the first half of the year reached NT$8,966 million, reflecting a substantial growth of close to 50% compared to the previous year.
During the first half of 2023, the Company's Asian businesses experienced growth of approximately 23%. Revenues from Taiwan nearly doubled from approximately NTD 613 million to NTD 1.2 billion, primarily driven by growth in the lung cancer segment, drugstore businesses, and osteoporosis segment. Korean businesses also witnessed a year-on-year growth of approximately 7%, fueled by advancements in the weight management segment. The Rest of Asia demonstrated a solid growth rate of 23%, attributed to successful product launches in Thailand and Vietnam. Notably, export revenues grew by 86% during this period, largely contributed by the supply of Lenalidomide.
Lotus maintains a balanced revenue distribution between Asia and export markets outside of Asia. Korean businesses now account for approximately 32% of the Group's revenue, Taiwan contributes 13%, and the Rest of Asia represents 4%. Export sales contribute slightly over 50% to the Group's overall revenue.
Lotus has made significant strides in its strategic expansion efforts in Southeast Asia this month. By the end of June, the Drug Administration Department in Vietnam granted approval for three strengths of Lenalidomide—5mg, 10mg, and 25mg—showcasing the Company's progress in the region.
In recent years, Lotus has successfully transformed into a diversified pharmaceutical company, adding branded, 505(b)2, NCEs, and biosimilar products to the original generic portfolio. This strategic shift has accelerated the Company's global business expansion, establishing a strong presence in Taiwan while aiming for global reach and continuously fostering operational synergies. Lotus remains committed to delivering high-quality healthcare solutions while adapting to evolving market dynamics.
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, safer 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.
Media Enquiries:
Susan Liao, IR/PR Director
+886 2 2700 5908
investor@lotuspharm.com