Lotus Pharmaceutical Co., Ltd (“Lotus” or “the Company”, Taiwan OTC ticker: 1795) today announced an asset purchase agreement under which Lotus Group will acquire IP assets and existing businesses of Evista® (Raloxifene) in 7 countries in APAC for the prevention and treatment of osteoporosis from Takeda Pharmaceutical for approximately US$ 22 million.
Leveraging the company’s strong sales and marketing capabilities, and experience in successfully promoting branded products in APAC markets, Lotus will take over the Evista® businesses in Korea, Hong Kong/Macau, Thailand and other South East Asian markets from April 2019. Formal closing of the deal is expected following the completion of MA transfers in these territories in early 2020.
"Following the successful launches of Mercilon and Aclasta, selective acquisition of branded products has proven to be an integral growth driver. A deal like Evista® is an important part of our strategy in APAC markets," said Petar Vazharov, General Manager of Lotus. "We will continue to evaluate further opportunities to enhance utilization of the existing commercial platform in the region with our portfolio."