BEIJING, Sept. 25 /Xinhua-PRNewswire-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a pharmaceutical products developer, manufacturer and distributor in the People's Republic of China ("PRC"), today announced that China's State Food and Drug Administration (SFDA) is evaluating the Company's drug Laevo-Bambutero for clinical trials.
Laevo-Bambutero is a drug used to treat asthma, and the Company views it as a more effective drug than a number of alternative drugs currently on the market. Lotus obtained the patent along with exclusive production rights in China for Laevo-Bambutero through a technology transfer agreement with Dongguan Kaifa Biomedicine, Inc. in May 2008.
The Company received formal notice from the SFDA that it has started to evaluate Laevo-Bambutero for clinical trials. This evaluation is expected to take from six to nine months and will determine if and when stringent clinical trials begin. If approved, those clinical trials should take approximately eighteen months. Pending final approval for manufacturing and distribution from the SFDA, Lotus plans to launch sales of Laevo-Bambutero by 2012.
"The news from the SFDA is an important first step of many steps needed for bringing Laevo-Bambutero to market," said Dr. Zhongyi Liu, Chairman, CEO and President of Lotus Pharmaceuticals, Inc. "We are pleased to have reached a new milestone in the commercialization of Laevo-Bambutero, which we look forward to adding to our product portfolio."
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. controls and operates Liangfang
Pharmaceutical, Ltd. ("Liangfang") and Enze Jiashi Pharmaceutical, Ltd.
("Enze"), two pharmaceutical companies located in Beijing, China. Together,
Liangfang and Enze ("Lotus East") undertake the development, production,
marketing and distribution of pharmaceutical products. Lotus East has some
of the most advanced pharmaceutical production
|SOURCE Lotus Pharmaceuticals, Inc.|
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