Taiwan based Lotus Pharmaceutical, a leading global pharmaceutical company, has entered into a License and Supply Agreement with Europe's 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."
