Taipei, Taiwan, 11th December 2023 – Lotus Pharmaceutical (1795:TT; “Lotus”), a global pharmaceutical company based in Taipei, Taiwan, has joined forces with Favorex Pte Ltd, a subsidiary of DKSH, to announce a strategic partnership aimed at commercializing an ustekinumab biosimilar in South Korea.
The exclusive collaboration between Lotus and Favorex Pte Ltd will focus on the distribution and commercialization of ustekinumab, a biosimilar to Stelara®, in the South Korean market. This product has already obtained approval in Canada and Japan, as well as a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) of European Medicine Agency (“EMA”).
Stelara® (ustekinumab) is a prescribed medication for autoimmune conditions such as psoriasis, psoriatic arthritis, Crohn's disease, and ulcerative colitis. According to IQVIA data, the annual sales of Stelara® in South Korea for the 12 months ending in December 2022 amounted to approximately USD 32 million, reflecting a 23% annual growth rate.
Petar Vazharov, Lotus' Chief Executive Officer, expressed enthusiasm about the collaboration, stating, "We are thrilled to partner with Favorex and DKSH Healthcare to introduce ustekinumab to our portfolio in South Korea. Biosimilars align with our overarching strategy to bring value-added medications to markets across Asia. By steadily incorporating various biosimilars, Lotus is reinforcing its transformation into a diversified product portfolio with novel and complex products, with the goal of providing affordable and high-quality medications to patients worldwide."
Peter Dolinsky, Vice President, Global Head of Own Brands at DKSH Healthcare said, " Favorex and DKSH Healthcare are excited to partner with Lotus in bringing ustekinumab to South Korea and providing high quality, cost-effective solutions for patients grappling with autoimmune conditions. This collaboration signifies our shared commitment to advancing healthcare accessibility and positively impacting patient outcomes in the region. We are confident that our collective efforts will help achieve our DKSH Healthcare purpose of enriching people’s lives by helping provide better healthcare for all patients in Asia and beyond."
Founded in 1966, Lotus (1795: TT) is an international pharmaceutical company with global presence, focused on commercializing novel and generic pharmaceuticals, offering patients better, safe 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.
About Favorex Pte Ltd and DKSH
Favorex is a trusted brand-owning subsidiary within the DKSH Group and is part of the Healthcare Business Unit. Focused on licensing and marketing healthcare products to patients and healthcare professionals, Favorex leverages DKSH's extensive expertise and network in Asia Pacific. DKSH’s purpose is to enrich people’s lives. For more than 150 years, we have been delivering growth for companies in Asia and beyond across our Business Units Healthcare, Consumer Goods, Performance Materials, and Technology. As a leading Market Expansion Services provider, we offer sourcing, market insights, marketing and sales, eCommerce, distribution, and logistics as well as after-sales services. DKSH is a participant of the United Nations Global Compact and adheres to its principles-based approach to responsible business. Listed on the SIX Swiss Exchange, DKSH operates in 37 markets with 32,600 specialists, generating net sales of CHF 11.3 billion in 2022. The DKSH Business Unit Healthcare is a trusted healthcare solutions partner across Asia and beyond. With around 7,990 specialists, the Business Unit generated net sales of CHF 5.6 billion in 2022. www.dksh.com/hec
Lotus Cautionary Note Regarding Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this document are forward looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are not based on historical facts but rather on management’s expectations regarding future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Statements in this presentation about our future plans and intentions, results, level of activities, performance, goals or achievements or other future events constitute forward looking statements. Wherever possible, words such as “anticipate”, “believe”, “expect”, “may”, “could”, “will”, “potential”, “intend”, “estimate”, “should”, “plan”, “predict”, or the negative or other variations of statements reflect management’s current beliefs and assumptions and are based on the information currently available to our management. Investors are cautioned not to place undue reliance on these forward-looking statements, which are made as of the date of this document and we assume no obligation to update or revise any forward-looking statements.
Investor and Media Relations
Susan Liao, Head of Investor Relations
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Favorex & DKSH Contact
Marketing and Communications
Jacques Philippe Izon Reyes, Head of Marketing and Communications for DKSH Healthcare
+66 5717 8872