Taipei, Taiwan - Lotus Pharmaceutical Co., Ltd. (Taiwan Stock Exchange: 1795), a leading global pharmaceutical company, announced that it has entered into a License and Supply Agreement with Adalvo to commercialise its Semaglutide injection for obesity (Wegovy generic) and diabetes (Ozempic 2mg generic) in multiple Asian markets, including South Korea, Taiwan and a number of Southeast Asian countries.
In particular, Lotus will hold the exclusive rights to the Wegovy generic to be commercialised in South Korea, Taiwan, Thailand, Singapore and Vietnam. Lotus will initiate the registration processes in these markets with the aim to launch as first generic in their corresponding markets.
Semaglutide, a glucagon-like peptide-1 (GLP-1) receptor agonist, is one of the most significant innovations in obesity care and is also widely used in type 2 diabetes management. It has already established itself as a multi-billion-dollar therapy and is among the fastest-growing treatments worldwide.
Petar Vazharov, Chief Executive Officer of Lotus Pharmaceuticals, commented: 'Lotus has established itself as one of the leaders in the obesity market in South Korea with Qsymia, and the addition of Semaglutide will further strengthen our position and commitment to delivering innovative and affordable solutions for patients, not just in South Korea but in other markets in Asia as well. This is in line with our focused strategy in accelerating patient access to high-quality therapies and continuing to set new benchmarks in obesity and diabetic care across Asia.'
About Lotus
Founded in 1966, Lotus (1795: TT) is an international pharmaceutical company with a global presence, focused on commercializing both novel and generic pharmaceuticals to provide patients with better, safer, and more accessible medicines. The company boasts a best-in-class R&D and manufacturing platform in Asia, certified by leading regulatory authorities around the world, including the US FDA, EU EMA, Japan PMDA, China FDA, and Brazil ANVISA. Lotus has established partnerships in nearly every major global market, including the U.S., Europe, Japan, China, and Brazil. The company is currently developing and registering over 100 strategically selected pharmaceutical projects across Asia and the U.S., with more than 250 commercial products. Lotus invests in a diversified portfolio, consisting of high-barrier oncology, complex generics, 505(b)2, NCEs, and biosimilars, through both internal R&D investments and licensing-in partnerships to strengthen its portfolio competitiveness.
Contact:
Jeffrey Tsang
Tel: +886 2 2700 5908
Email: investor@lotuspharm.com
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