ORION CORPORATION PRESS RELEASE 30 DECEMBER 2019 at 9.00 EET
Orion Corporation ("Orion") and Lotus Pharmaceutical Co., Ltd. ("Lotus") have made a marketing and distribution agreement for Orion's Parkinson's disease drugs Stalevo and Comtan in parts of Asia.
According to the agreement, Lotus will, starting Q3 2020 and depending on transfer of the regulatory approvals, have the right to sell and market Stalevo in Bangladesh, Hong Kong, Indonesia, Philippines, South Korea, Taiwan and Vietnam and Comtan in Hong Kong, Philippines, South Korea and Taiwan.
Orion will be responsible for manufacturing the products covered by the agreement. The agreement will be in effect for five years following the first commercial sales.
Satu Ahomäki, SVP Commercial Operations of Orion Corporation said: "We are pleased to have Lotus as our partner. The collaboration ensures that Orion's established Parkinson's products continue to be available for the patients in the respective Asian markets. We continue the work to develop our distribution network also in other geographical areas."
EVP of Alvogen APAC and Lotus General Manager Petar Vazharov said: "We continue to strengthen and expand our Asian presence by investing in fastest growing therapeutic domains. CNS is undoubtedly one of the key growth areas and Parkinson's disease drugs are one of Orion's largest family of product offerings. By entering Parkinson's disease market based on the cooperation with Orion, we are confident to continue to deliver sustainable growth by diversifying our portfolio with Branded and Proprietary products."
About Lotus Pharmaceutical
Founded in 1966, Lotus is a specialty generic company headquartered in Taiwan with high-value products covering CNS, CVS, oncology, women health, and anti-obesity drugs in tablets & hard/softgel capsule for global markets. It became an Alvogen Company in 2014. The primary focus of Lotus is on addressing the fast-growing oncology market. The company boasts a best in class R&D and manufacturing platform across Taiwan and Korea. Further, Lotus can reach nearly every global market with its high value pipeline through the company's direct markets, relationship with Alvogen's commercial units spanning over 30 countries, and through alliances with top-tier pharma companies. Lotus shares are listed on Taiwan Stock Exchange.
About Orion
Orion is a globally operating Finnish pharmaceutical company - a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are central nervous system (CNS) disorders, oncology and respiratory diseases for which Orion develops inhaled Easyhaler pulmonary drugs. Orion's net sales in 2018 amounted to EUR 977 million and the company had about 3,200 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.
Contact person:
Tuukka Hirvonen, Investor Relations and Corporate Communications, Orion Corporation
Tel. +358 10 426 2721
tuukka.hirvonen@orion.fi
Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
www.orion.fi
