BEIJING, April 24 /Xinhua-PRNewswire-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a pharmaceutical company in the People's Republic of China ("PRC"), today announced the resignation of Mel Rothberg from the Company's board of directors, effective April 21, 2008, for personal reasons.
Mr. Rothberg served as a director since August 2006. Following his resignation, he will continue to serve as independent consultant to the Company, where he will provide advice and counsel on business development issues as they relate to Lotus' corporate governance and pharmaceutical pipeline. Mr. Rothberg has extensive experience in senior management positions with pharmaceutical and medical device companies with operations worldwide.
"In his tenure on our board, Mel Rothberg made an outstanding contribution to Lotus' corporate governance and development," said Dr. Zhongyi Liu, Chairman and Chief Executive Officer of Lotus. "We look forward to working with him in the future as an independent consultant."
Following Mr. Rothberg's departure, Lotus' board is comprised of seven directors, two of whom are independent.
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. ("Lotus") controls and operates Liangfang
Pharmaceutical, Ltd. ("Liangfang") and Enzhe Jiashi Pharmaceutical, Ltd.
("Enzhe"), two Chinese pharmaceutical companies located in Beijing
(together "Lotus East"). Lotus East is a comprehensive enterprise, which
deals in an integration of the production, trade, sales and marketing of
pharmaceuticals. The Company possesses some of the most advanced
pharmaceutical-production equipment used in China, workshops authenticated
by the National GMP, a suite of various medicines produced by Lotus East,
and a number of high-tech personnel. Lotus East has business and office
facilities of 2,000 square meters, warehouse of 1,000 square meters and
operates ten retail pharmacies in the Beijing a
|SOURCE Lotus Pharmaceuticals, Inc.|
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