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:2/22/2017)... According to a new market research report "Process Analytical Technology Market ... Probes & Sensors), End - User (Pharmaceutical Manufacturers, CRO & CMO) - ... to reach USD 3.30 Billion by 2021 from USD 1.77 Billion in ... Continue Reading ... ...
(Date:2/22/2017)... BEACH, Florida , February 22, 2017 /PRNewswire/ ... Cannabis Industries is becoming more and more prevalent ... Of Cannabinoids & THC Extracts as well as ... approach to medicinal cannabis and marijuana therapies and ... acquiring new relationships and assets designed to bring ...
(Date:2/22/2017)... Feb 22, 2017 Nordic Nanovector ASA (OSE: ... novel targeted therapeutics for haematological cancers, will announce its fourth quarter ... ... Nordic Nanovector,s senior management team will take place at 8:30 am ... Oslo Meeting Room: NYLAND The presentation will be recorded ...
Breaking Medicine Technology:
(Date:2/22/2017)... ... February 22, 2017 , ... Becker’s Spine Review, the ... featuring Michigan neurosurgeon Jay Jagannathan, M.D., as a “Spine Surgeon to Know.” ... neurosurgeons in Michigan performing minimally invasive back surgery that often results in less ...
(Date:2/22/2017)... ... February 22, 2017 , ... The SeniorCare Investor will host an important webinar— ... 23, 2017, at 1:00 PM ET. A recording of the webinar will also be ... Series. , If you want to find out what really happened in the seniors ...
(Date:2/22/2017)... ... February 22, 2017 , ... BrightStar Care Charleston , a home care ... of South Carolina (MUSC) Center on Aging’s Senior Expo on Thursday, March 23, ... is a tremendous resource in our community. We are thrilled to participate in this ...
(Date:2/22/2017)... FRANCISCO BAY AREA - NORTHERN CALIFORNIA (PRWEB) , ... ... ... (PMF) aims to expand the pipeline and the number of African American/Black ... that encourages medical students and residents to pursue their careers as physicians in ...
(Date:2/21/2017)... ... February 21, 2017 , ... Doctors on Liens has ... by Dr. Kendell Mendonca , to its growing network of doctors in Central ... injuries stemming from car accidents such as whiplash, back pain, neck pain, hip and ...
Breaking Medicine News(10 mins):