Navigation Links
Lotus Pharmaceuticals Announces Update on Land in Inner Mongolia
Date:12/9/2010

BEIJING, Dec. 9, 2010 /PRNewswire-Asia-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a fast-growing, profitable developer, manufacturer and seller of medicine and drugs in the People's Republic of China ("PRC"), today announced that it plans to sell or transfer approximately 165 acres (1,000 MU) of Company-owned land in the Chahaer Industrial Park, Inner Mongolia. Lotus' operating entity, Beijing Liang Fang Pharmaceutical Co., Ltd., purchased the land-use rights for the property in 2008. Lotus had originally intended to build a pharmaceutical manufacturing and storage facility on a portion of the property.

In March 2010, Lotus began construction on a 250,000-square-foot facility in Beijing after receiving permission from the Beijing Chaoyang District Planning Bureau. The new building will house the Company's R&D center, manufacturing operations, storage facilities, sales and administrative offices. The building will become Lotus' new corporate headquarters following its completion. Management expects to move into the building by June 2011.

Lotus' Chairman and CEO, Mr. Zhongyi Liu, stated, "We have decided not to move forward with the construction of our planned facility in Inner Mongolia in order to focus our efforts and resources on expanding our core business in Beijing. We believe that selling or transferring this property will be a more effective use of our capital."

About Lotus Pharmaceuticals, Inc. Lotus Pharmaceuticals, Inc. is a fast-growing, profitable developer and producer of drugs and a licensed national seller of pharmaceutical items in the People's Republic of China (PRC). Lotus operates its business through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development is focused on the treatment of cerebro-cardiovascular diseases, asthma and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.

Information Regarding Forward-Looking StatementsExcept for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.Contacts:At the Company:Xing Shen, Ph.D.VP of Corporate DevelopmentLotus Pharmaceuticals, Inc.Tel: 415-690-7688Email: shen@lotuspharma.comWeb: http://www.lotuspharma.comInvestor Relations:Dave GentryRedChip Companies, Inc.Tel: +1-800-733-2447, Ext. 104Email: info@redchip.comWeb: http://www.redchip.com
'/>"/>

SOURCE Lotus Pharmaceuticals, Inc.
Copyright©2010 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. Lotus Pharmaceuticals, Inc. Strengthens Beijing Presence with Direct Sales to Drug Stores
6. Lotus Pharmaceuticals Reports Groundbreaking Ceremony
7. Lotus Pharmaceuticals to Exhibit at the 63rd PHARMCHINA
8. Lotus Pharmaceuticals Laevo-Bambuterol Received SFDA Approval to Commence Clinical Trials
9. Lotus Pharmaceuticals, Inc. Reports Strong First Quarter 2010 Financial Results
10. Pink Lotus Breast Center to Integrate Electronic Brachytherapy Cancer Treatment Platform
11. Lotus Pharmaceuticals to Present at Global Hunter Securities 2010 China Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... Hypermarcas S.A. ("Hypermarcas") today announced that ... "Tender Offer") to purchase any and all of ... its 6.500% Senior Notes due 2021 (CUSIP Nos. ... "Notes"). In connection with the Tender Offer, Hypermarcas ... "Consents") of the holders of the Notes (the ...
(Date:2/12/2016)... 12, 2016 ... http://www.sedar.com ) und der ... abrufbar.    --> http://www.sedar.com ) ... http://www.telestatherapeutics.com abrufbar.    --> ... seinen Konzernabschluss des zweiten Quartals und ...
(Date:2/12/2016)... -- Memorial Hermann Health System has teamed up with Houston ... a one-of-a-kind experience to pediatric patients at Children,s ... 360-degree video and Google Cardboard, Howard was able to ... the patients and their families an unexpected, and energetically ... video . Memorial Hermann IRONMAN Sports ...
Breaking Medicine Technology:
(Date:2/12/2016)... , ... February 12, 2016 , ... Donor Network West, ... California and Nevada, announced a partnership with San Ramon Regional Medical Center. Under the ... hospital’s facilities as a way to accommodate a more certain time frame for donor ...
(Date:2/12/2016)... ... February 12, 2016 , ... For Coast Dental dentist ... Sweeney, RDH, and dental assistant Terrell Moore shortly before 7 a.m. to volunteer at ... dental professionals, donating their time and skills to help hundreds of uninsured and underinsured ...
(Date:2/12/2016)... New York, NY (PRWEB) , ... February 12, ... ... latest edition of “Revolutionizing Cancer Care.” , The print component of ... in Chicago, Dallas, Pittsburgh/Cleveland, New York, Washington DC/Baltimore, and Seattle, with a circulation ...
(Date:2/12/2016)... ... February 12, 2016 , ... Atlantic Information Services, Inc. ... and PBMs,” an upcoming Feb. 24 webinar that will discuss ways health plans ... categories, such as the $1,000-per-pill hepatitis C treatment Sovaldi and high-cost PCSK9 inhibitors ...
(Date:2/12/2016)... CA (PRWEB) , ... February 12, 2016 , ... US ... Des Moines, Iowa. Legacy Golf Club, located in Norwalk, serves as the host site ... the Year, Rob Randall. , “We have had successful camps in recent years around ...
Breaking Medicine News(10 mins):