Lotus Pharmaceutical Co., Ltd (“Lotus” or “the Company”, Taiwan OTC ticker: 1795) today announced, on behalf of the Alvogen Group, that the group has been nominated in five categories for the annual Global Generics and Biosimilar awards 2017, sponsored by the trade publication, Generics Bulletin. Nominations include: Company of The Year, Company of The Year EMEA, Innovation of The Year, Business Development of The Year, and Corporate Social Responsibility Initiative of The Year.
Lotus Chairman Andrew Lin said that Alvogen group has been pursuing a unique path of success because “in the next five years, generics companies face as many challenges as opportunities.” And he said that Lotus is proud to be an Alvogen company during the best yet worst time. “Alvogen group operates across the United States, Europe, and Asia Pacific (APAC) region. Each region is a center of excellence based on its own strengths. When 3 regions work together, we shall have control over product, sales channel and legal/regulatory resources. These are critical to building economies of scale and are the tickets to victory in this industry. Additionally, sharp moves in portfolio and company acquisitions would also help the group grow faster. Alvogen is glad to see the nomination list that includes itself and other respectful pharmaceuticals including Hikma, Sandoz, to name just a few. It took Alvogen less than 10 years to get here, and that is the amazing thing. As an Alvogen company, Lotus will continue to focus on R&D and business developments in the APAC region. We hope to add more nominations to the list for Alvogen soon.”
Last year, Alvogen Group took home the prize in three categories; Regulatory Achievement of The year, Innovation of The Year, and Business Development of The Year. The awards will be given out during the CPhI show held in Frankfurt on 24 October this year.