Navigation Links
Lotus Pharmaceuticals, Inc. Strengthens Beijing Presence with Direct Sales to Drug Stores

BEIJING, Nov. 30 /PRNewswire-Asia-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company") a growing developer and producer of prescription drugs and licensed national seller of pharmaceutical products in the People's Republic of China ("PRC"), today reported that its Over-the-Counter Drug division ("OTC Division") successfully entered into supply contracts with more than five hundred drug stores in Beijing as of today. The Company already has direct purchase contracts in place with around 300 manufacturers nationwide to distribute more than 800 types of medicines. All contracts have a term from one to two years and are renewable upon mutual agreement.

"I'm pleased with the experienced sales force of our OTC Division," said Dr. Zhong Yi Liu, Chairman and Chief Executive Officer of the Company. "Since the establishment of the OTC Division at the end of the last year, we have demonstrated substantial success in entering this new market segment in Beijing. Our market research shows that the current sales revenue for 4,500 drug stores in Beijing is estimated to be in the aggregate RMB 5 billion per year. Looking forward, we believe that our revenues generated from direct sales to drug stores could contribute around RMB 60 million to net revenues by the end of 2010 with an estimated 25% in net margin."

The Company believes it will be able to enter into purchase agreements with a total of approximately 900 manufacturers throughout the PRC by the end of 2012. The Company also believes it will be able to enter into supply contracts with approximately 2,000 drug stores by 2012 and gradually become their main supplier of majority drugs. Since the Company is currently planning to build a 10,000 square meter modern storage in the new general office building in Chaoyang District of Beijing, and to put it into use by the third quarter of 2010, the Company believes it could realize annual sales of around RMB 200 million by 2012.

About Lotus Pharmaceuticals, Inc. ( )

Lotus Pharmaceuticals, Inc. is a growing developer and producer of prescription drugs and a licensed national seller of pharmaceutical items in the People's Republic of China. Lotus operates Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development pipeline is focused on the treatment of cerebro-cardiovascular disease, asthma, and diabetes. More than 8,000 products are sold by Liang Fang directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces.

Safe Harbor Statement

This press release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intent," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may," or words or expressions of similar meaning. Such statements are not guarantees of future performance and could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including, but not limited to, changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, increased costs, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, the time to get new drugs approved by the State Food and Drug Administration and other factors. Additional information regarding risks can be found in the Company's Annual Report on Form 10K and its older filings with the SEC. Accordingly, although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.

    For more information, please contact:

     Lotus Pharmaceuticals, Inc.
     Yan ZENG, CFO
     Phone: +86-10-6389-9868

SOURCE Lotus Pharmaceuticals, Inc.

SOURCE Lotus Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Lotus Pharmaceuticals, Inc. Achieves Significant Milestones in the Development of Isosorbide Mononitrate Sustained Release Tablets
2. Lotus Pharmaceuticals, Inc.s New Drug Laevo-Bambutero Begins Evaluation for Clinical Trials
3. Lotus Pharmaceuticals, Inc. Reports Third-Quarter 2009 Results
4. Lotus Pharmaceuticals, Inc. to Exhibit at the 62nd PHARMCHINA
5. Auxilium Pharmaceuticals, Inc. Receives Clearance to Resume Clinical Trials for XIAFLEX(TM)
6. Solvay Pharmaceuticals, Inc. and Wyeth Pharmaceuticals Announce Receipt of an FDA Action Letter for Bifeprunox, an Investigational Treatment for Schizophrenia
7. Quark Pharmaceuticals, Inc. Presented Positive Preclinical Results of Systemic RNAi Compound for Acute Renal Failure (ARF)
8. Acura Pharmaceuticals, Inc. Secures Financing to Fund Pivotal Phase III Clinical Trial for Lead Aversion(R) Technology Product Candidate
9. Sucampo Pharmaceuticals, Inc. Begins Pivotal Phase III Studies of Oral Lubiprostone to Treat Opioid-Induced Bowel Dysfunction (OBD)
10. Symbollon Pharmaceuticals, Inc. Evaluates the Clinical Effects of IoGen(TM) on Fibrocystic Breast Disease
11. Aegerion Pharmaceuticals, Inc. Presents Final Results of Phase II Clinical Trials for AEGR-733 at Drugs Affecting Lipid Metabolism (DALM) 2007 Conference
Post Your Comments:
(Date:11/26/2015)... November 26, 2015 ... the "Radioimmunoassay Market by Type (Reagents ... Industry, Academics, Clinical Diagnostic Labs), Application (Research, ... to 2020" report to their offering. ... the addition of the "Radioimmunoassay Market ...
(Date:11/25/2015)... Nov. 25, 2015  Amgen (NASDAQ: AMGN ) ... (BLA) with the United States ... a biosimilar candidate to Humira ® (adalimumab). Amgen ... submitted to the FDA and represents Amgen,s first BLA ... E. Harper , M.D., executive vice president of Research ...
(Date:11/25/2015)... , Nov. 25, 2015 On Tuesday, ... federal bellwether trial against Wright Medical Technology, Inc. ... their Conserve metal-on-metal hip implant device, awarded $11 ... a two week trial and three days of ... hip device was defectively designed and unreasonably dangerous, ...
Breaking Medicine Technology:
(Date:11/27/2015)... ... November 27, 2015 , ... Avid collector, Andrew Hawley ... Michigan boxing style concert posters. This is one of Joplin's most famous and beautiful ... at the University of Michigan in Ann Arbor. The According to Hawley, "It is ...
(Date:11/26/2015)... ... November 26, 2015 , ... Patients at ... Michigan, have come together on Thanksgiving Day to share the things that they ... on the Serenity Point YouTube channel, patients displayed what they wrote on index ...
(Date:11/26/2015)... ... November 26, 2015 , ... ... eReferral system for diagnostic imaging in the Waterloo region. Using the Ocean Platform, ... Medicine tests directly from their electronic medical record (EMR) without the need for ...
(Date:11/26/2015)... ... November 26, 2015 , ... The Catalent ... and the need to integrate dose form selection in early phase drug development. ... membership organization supporting and bringing together the UK’s emerging life sciences companies, corporate ...
(Date:11/26/2015)... , ... November 26, 2015 , ... PRMA Plastic Surgery ... 19, 2015, our surgeons performed their 6,000th free flap breast reconstruction surgery! , “What ... up every day excited to rebuild lives and it’s an honor to have served ...
Breaking Medicine News(10 mins):