Lotus Pharmaceutical's expansion in the Southeast Asian market is gaining momentum. The company announced that its acquisition of Alpha Choay from Sanofi, originally expected to be completed in the first half of 2025, will now be finalized by early 2025, approximately six months ahead of schedule. The acquisition is projected to contribute an annual revenue of 600–700 million NTD. Combined with the revenue from the Teva Pharma Thailand acquisition, Lotus expects its annual revenue contribution in Vietnam to increase to 800–1,000 million NTD.
Alpha Choay (Chymotrypsine) is a widely used therapeutic drug in Vietnam, primarily prescribed for treating edema caused by inflammation, trauma, surgery, or burns. Known for its potent anti-inflammatory properties, the drug accelerates the absorption of inflammation-induced edema as well as post-surgical and trauma-related hematomas and swelling. In 2023, Alpha Choay generated over USD 22 million in sales across Vietnam and Cambodia, with an estimated gross margin exceeding 80%.
Originally a branded drug under the French pharmaceutical group Sanofi, Alpha Choay is a leading anti-inflammatory medication in Vietnam. Its acquisition is expected to provide Lotus with a strong foothold in Vietnam's pharmacy sales channels, enhancing the company’s presence in the Vietnamese pharmaceutical market. While the acquisition was initially anticipated to be completed by the first half of 2025, the timeline has been advanced by six months to early 2025. Including the Teva Pharma Thailand acquisition, Lotus anticipates that its Vietnam revenue contribution will reach 800–1,000 million NTD annually.
As of November 2024, Lotus Pharmaceutical reported revenues of 17.12 billion NTD, marking a 9.9% growth compared to the same period last year and already surpassing the total revenue for 2023. The company’s financial targets for 2024 remain unchanged, with goals of 9–10% annual revenue growth, a gross margin exceeding 55%, and an operating profit margin above 30%. Looking ahead, Lotus expects its revenue and profit growth over the next five years to primarily come from the launch of new products, supplemented by contributions from Southeast Asian business acquisitions, with profit growth anticipated to maintain a double-digit percentage increase.
Resource: 美時收購Alpha Choay提前明年初完成，越南年營收貢獻攀至8-10億元
