LSP is a German protein producer. They advertise with a ton of quality seals and that should explain the price, because this protein is one of the more expensive once. It is in the same price segment like the gold standard by ON.
Rev: This was one of my first whey proteins I bought. I have to be honest, at this time, I had no idea what I am actualy buying there. The owner of my local supplement shop just told me to go for that, and afterwards I heard that he has an agreement with LSP to push customers to buy LSP because he gets more money for that... There might be a quality difference to other whey proteins which do not have all of these seals, but I do not think that this explains the price. Like in the ON case, you pay for the brand and nothing more. The taste, I had vanilla first, was okay. Not good, but also not that bad. Afterwards I had banana, and oh my god, please do not go for that. This flavour was really not good and tasted awful. For quality read my blog.
Sum: In my opinion it is not worth buying it. If you have the money to buy such an expensive protein, go for ON. The taste is better than LSP's.