LOTUS REPORTS ITS BEST QUARTER EVER WITH THE BIGGEST LAUNCH IN ITS HISTORY

TAIPEI, Taiwan, Nov. 11, 2022 /PRNewswire/ —  Lotus Pharmaceutical (1795: TT), a multinational pharmaceutical firm, at this time reported its monetary outcomes for the third quarter ended 30 September 2022.

Third quarter monetary highlights:

• Third quarter 2022 is the perfect quarter ever within the Company’s historical past, majorly pushed by the profitable launch of Lenalidomide within the US – the largest launch in Lotus historical past to this point. Basic EPS for the primary 9 months ended 30 September 2022 totaled NT$10.96, setting the course for the Company to attain one other document yr in 2022.
• Consolidated web gross sales had been NT$5,389 million, representing a development of 85.2% during the last quarter and 76.3% versus prior yr interval.
• Export Business was the primary development driver, contributed by the profitable launch of Lenalidomide (generic of Revlimid) within the US, in addition to the primary supply to Brazil, the largest market in Latin America. Sales from Export elevated 245% in comparison with final quarter and 183% in comparison with identical interval final yr.
• Asian Business continued to develop for the third consecutive quarter, 3.2% over final quarter, additionally 10.8% over the identical interval final yr. Key manufacturers in main markets, together with Korea, Taiwan, and Thailand, continued the expansion momentum.
• Gross margin rose to 67.9%, pushed by product combine with increased contribution from extra worthwhile export oncology merchandise throughout the quarter.
• Comparing to the prior yr, working income grew by 353%, to NT$2,641 million, with 49.0% working margin for the quarter, primarily pushed by increased gross margin.
• Historic excessive third quarter EPS of NT$7.97 and first 9 months fundamental EPS of NT$10.96.

Robert Wessman, Chairman of Lotus mentioned: “I am very happy to share such a record setting quarter that will most certainly lead to the most profitable year in Lotus’s history. With Lenalidomide launch in the US, the largest market in the world and the first delivery to Brazil, the largest market in South America, Lotus has achieved major milestones of its transformation to a global oncology player. I am confident that the team will continue to set records with further achievements driving sustainable growth.”

Petar Vazharov, Chief Executive Officer of Lotus, continued to point: “Lotus will continue to build US pipeline and the recent tentative approval of the generic Midostaurin softgel capsules from the US FDA is a testimony to that. Lotus believes that this is a potential first-to-file opportunity and expects to launch the generic Midostaurin softgel capsules subject to the intellectual property clearance in the US. Another important milestone occurred during the quarter is Lenalidomide filing in Japan, and similar to the US, we are ramping up a robust pipeline of products for Japan market based mostly on strategic partnership.

Lotus’s success throughout latest years gives vital monetary sources to proceed investing in new merchandise, new partnerships, getting into new markets and, on the identical time, present returns to our shareholders. We consider that is the start of a brand new chapter of Lotus’s development story.”

Operational outcomes for the third quarter 2022

Total web gross sales had been NT$5,389 million, evaluating to NT$3,058 million for a similar interval final yr, representing a rise of 76.3%, or 78.9% excluding the unfavorable influence on international alternate between the Korean Won and New Taiwan Dollar.

Gross margin was 67.9% for the quarter, considerably increased than 45.3% for a similar interval 2021 and 47.4% within the earlier quarter. The distinction was primarily defined by extra revenues coming from extra worthwhile export phase.

R&D bills was NT$203 million for the three months ended 30 September 2022, a 66.6% enhance in comparison with a yr earlier than because of the cessation of 1 R&D challenge and thus recognizing the impairment cost of roughly NT$93 million, barely offset by much less R&D spending throughout the quarter.

SG&A bills noticed a rise of 19.7% in comparison with the identical prior yr interval, principally pushed by increased amortization of the newly-acquired Cialis and Evista manufacturers in Taiwan and better personnel bills with extra headcounts to develop the business.

The Company delivered a historic excessive working margin of 49.0% for the quarter, versus 19.1% for the comparable interval final yr and 16.8% for the prior quarter, resulted from the improved gross margin whereas sustaining the same degree of working bills.

During the quarter, the Company generated steadily money influx from operations and had web influx of NT$1,123 million from operations earlier than tax and curiosity. Its web gearing has gone down attributable to rising profitability. The Company’s web debt to LTM EBITDA ratio landed at 1.23x as of the third quarter 2022, in comparison with 1.45x as of the identical interval final yr.

Exceeding the expectation, the Company reported an EPS of NT$7.97 for the third quarter 2022 and NT$10.96 for the primary 9 months ended 30 September 2022.

Pipeline and business growth replace

During the third quarter 2022, Lotus made a number of achievements to additional develop the addressable markets with extra diversified portfolio by way of inner R&D as properly in-licensing business growth offers. 15 submissions had been made in complete, together with Lenalidomide in Japan and Tofacitinib, indicated for rheumatoid arthritis (RA), in South Africa by way of native companion. 24 approvals had been granted throughout the quarter, together with Alyssa and the approval of Pomalidomide in Taiwan.

• As of the third quarter 2022, the Company has 95 international locations coated on the planet for its Lenalidomide and made its Lenalidomide now out there in 43 international locations around the globe.
• Addressable markets are additionally constantly increasing for Lotus’s different main portfolio globally – greater than 50 international locations for its Gefitinib, Vinorelbine, and Sunitinib, greater than 30 international locations for its Enzalutamide and Pazopanib, and 17 extra for its Pomalidomide.
• Among the second-wave oncology portfolio, the Company has launched its Enzalutamide in 4 international locations, together with the newly-approved Taiwan, and added Israel because the 22^nd marketplace for its Vinorelbine around the globe.

Income assertion

Conference name and earnings materials

Lotus Pharmaceutical will host a stay audio convention in Mandarin at 2pm, 15 November and conduct a convention name at 4pm, 15 November in English to evaluation the Company’s monetary outcomes for the third quarter 2022. The info of earnings name is accessible on the following deal with on the Company’s web site: https://www.lotuspharm.com/.

About Lotus

Founded in 1966, Lotus (1795: TT) now could be the biggest pharmaceutical firm in Taiwan with high-value generic merchandise masking CNS, CVS, ladies well being, and anti-obesity medication in tablets and laborious/softgel capsule with a particular give attention to oral oncology for world markets.

By leveraging a best-in-class R&D and manufacturing platform in Asia, Lotus goals to profit sufferers, its workers and stakeholders. Furthermore, Lotus can attain almost each world market with its excessive worth pipeline by way of its direct markets, at present encompassing Taiwan, Korea, Thailand, Vietnam, Singapore, Hong Kong, Malaysia, Philippines, and China, or by way of alliances with top-tier pharma firms based mostly on its industry-leading infrastructure licensed by a lot of the superior regulatory authorities around the globe, together with US FDA, EU EMA, Japan PDMA, China FDA, and Brazil ANVISA. 

Investor enquiries:

Angela Luan, Investor Relations Director

+886 2 2700 5908

[email protected]

Media enquiries:

Lara Omarsdottir, Public Relations

+354 659 9166

[email protected]

[email protected]

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