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Lotus Pharmaceuticals, Inc. Purchases Intellectual Property Rights to an Established Prescription Drug
Date:2/18/2009

rd party revenue for Yipubishan in 2008 was RMB67 million (about $9.8 million), with a 75.0% gross profit margin. Lotus is expecting to have RMB75 million of revenue from Yipubishan in 2009 with a 75.0% gross profit margin. After 2009, revenue from Yipubishan is expected to increase by 25% a year through 2011.

Yipuan has a manufacturing agreement with Beijing Si Huan pharmaceutical Co., Ltd. ("Si Huan") to manufacture Yipubishan. Si Huan will continue to manufacture Yipubishan for Liang Fang. Yipubishan's current packaging will not be changed.

As part of the sale of Yipubishan, Yipuan is transferring its distribution channels, including sales representatives, to Liang Fang in phases. Most of Yipuan's sales of Yipubishan take place in Jiangxi province, Xi'an and Shanghai. In 2006, Liang Fang started distributing Yipubishan in Anhui and Inner Mongolia. Liang Fang is considering whether to use the distribution channels it is acquiring from Yipuan for some of its own products.

"The purchase of Yipubishan is part of Liang Fang's strategy to increase its drug portfolio by acquiring well established drugs that have demonstrated commercial success," said Dr. Zhongyi Liu, the CEO and Chairman of Lotus. "We are familiar with the superior quality of this drug, believe it has great market potential, and will sell it through our national sales network along with the distribution channels which we acquire from Yipuan."

About Lotus Pharmaceuticals, Inc.

Lotus Pharmaceuticals, Inc. controls and operates Liang Fang Pharmaceutical, Ltd. ("Liang Fang") and Enze Jiashi Pharmaceutical, Ltd. ("Enze"), two pharmaceutical companies located in Beijing, China. Together, Liang Fang and Enze ("Lotus East") undertake the development, production, marketing and distribution of pharmaceutical products. Lotus East has some of the most advanced pharmaceutical production equipment in China and its manufactu
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SOURCE Lotus Pharmaceuticals, Inc.
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