Navigation Links
Lotus Pharmaceuticals Terminates SEDA
Date:7/22/2010

BEIJING, July 22 /PRNewswire-Asia-FirstCall/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a growing developer, manufacturer and seller of medicine and drugs in the People's Republic of China (the "PRC"), announced today that it has entered into a termination agreement with Yorkville Global Master SPV Ltd. ("Yorkville") whereby the parties agreed to mutually terminate the Standby Equity Distribution Agreement, dated March 3, 2010, between the company and Yorkville (the "SEDA") with no further obligations.

CEO, Dr. Zhongyi Liu, commented, "We appreciate the capital commitment from Yorkville, but we won't utilize the SEDA. The reason is that currently we have sufficient working capital and growth capital to carry out the construction and outfitting of our new building complex in Beijing, which is expected to open in 2010. We will consider alternative funding options and structures only when our stock valuation improves, in order to protect against stock dilution."

About Lotus Pharmaceuticals, Inc. (http://www.lotuspharma.com )

Lotus Pharmaceuticals, Inc. is a growing developer and producer of drugs and a licensed national seller of pharmaceutical items in the 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 disease, 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.

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 other 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
     Email: zy@lotuspharma.com


'/>"/>
SOURCE Lotus Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Lotus Pharmaceuticals to Present at Global Hunter Securities 2010 China Conference
2. Pink Lotus Breast Center to Integrate Electronic Brachytherapy Cancer Treatment Platform
3. Lotus Pharmaceuticals, Inc. Reports Strong First Quarter 2010 Financial Results
4. Lotus Pharmaceuticals Laevo-Bambuterol Received SFDA Approval to Commence Clinical Trials
5. Lotus Pharmaceuticals to Exhibit at the 63rd PHARMCHINA
6. Lotus Pharmaceuticals Reports Groundbreaking Ceremony
7. Lotus Pharmaceuticals, Inc. Strengthens Beijing Presence with Direct Sales to Drug Stores
8. Lotus Pharmaceuticals, Inc. to Exhibit at the 62nd PHARMCHINA
9. Lotus Pharmaceuticals, Inc. Reports Third-Quarter 2009 Results
10. Lotus Pharmaceuticals, Inc.s New Drug Laevo-Bambutero Begins Evaluation for Clinical Trials
11. Lotus Pharmaceuticals, Inc. Achieves Significant Milestones in the Development of Isosorbide Mononitrate Sustained Release Tablets
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/4/2016)... -- For hospitals considering enrollment in the Federal 340B ... program, the Health Resources and Services Administration,s (HRSA) recent ... , could have significant impact on plans and operations, ... Essential Insights , Daniel Neal, director ... Mega-Guidance,s key proposed changes, including a new requirement that ...
(Date:2/4/2016)... 4, 2016  The Senior Care Pharmacy Coalition ... Committee Chairman Jason Chaffetz (R-UT) and ... hearing , "Developments in the Prescription Drug ... growing questions about abusive pharmacy benefit manager (PBM) ... and Ranking Member Elijah Cummings (D-MD) are diligent, ...
(Date:2/4/2016)...   Bernstein Liebhard LLP today announced that a ... District Court for the District of Arizona ... all persons or entities who purchased common shares of Insys ... from March 3, 2015 through January 25, 2016 (the "Class ... with violations of the Securities Exchange Act of 1934.  ...
Breaking Medicine Technology:
(Date:2/6/2016)... (PRWEB) , ... February 06, 2016 , ... Shark ... to announce the launch of a new DRTV campaign with Belly Bands. , Having ... tried everything from sprays to puppy pads and find nothing works, get Belly ...
(Date:2/5/2016)... ... ... Love is in the air at King Kullen! The local grocer is ... staple for Valentine’s Day is a must-have, and can be picked up with all ... are long-stem roses available, but also other flower bouquets, elegantly wrapped and ready to ...
(Date:2/5/2016)... (PRWEB) , ... February 05, 2016 , ... ... and setting the stage for new clinical and scientific initiatives have all marked ... after she was appointed President and CEO of the nation’s oldest cancer center, ...
(Date:2/5/2016)... ... February 05, 2016 , ... Francisco ... micro-needling services in their Napa Valley office. The technique utilizes the body’s own ... Dr. Canales and Dr. Furnas, are part of only a select few cosmetic ...
(Date:2/5/2016)... ... ... After years as an active staff surgeon and having served as the director ... transitioned to chief of the Division of Plastic Surgery at what is now known ... began a second three-year term in January of 2016. , The original selection was ...
Breaking Medicine News(10 mins):