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Press Releases |
| Lotus Pharmaceuticals, Inc. Completes $3 Million Financing in U.S. |
Beijing, China – March 1, 2007 – Lotus Pharmaceuticals, Inc. (OTCBB: LTUS) announced it has completed a $3 million financing with a U.S.-based investment fund. The proceeds will be utilized to expand its domestic markets, increase sales and to acquire additional drugs for its Beijing retail stores. |
| Commented CEO Dr. Liu Zhongyi: “This $3 million investment provides Lotus with additional capital resources to better deploy and expand our product line, improve our balance sheet and execute our strategic business plan that is focused on marketing, acquisitions and corporate development. We are grateful for the guidance provided by our partner, Genesis Equity Partners, and its parent company (OTCBB: GTEC). Genesis’s dedication and leadership assisted our transformation and impressively increased the value of Lotus. This initial funding is the beginning for Lotus, as Western capital will enable our Company to establish a presence first nationally, then internationally amongst China-based pharmaceuticals.” |
- Lotus opened its newly-built facilities to produce freeze-dried powder injections, small-volume injections and eye drops with total investments of $245,000, which passed the National GMP Certification with the Certificate Number G3452.
- Exclusive new drug curing open-angle glaucoma, alpha-2 Receptor Excitant-brimonidine tartrate material and eye drops (Muxin) was approved by the State SFDA (registration number of approval: SDPD H20041215), and came to market in September; the sales in three months totaled $244,000, with a profit of $100,000.
- Levofloxacin Lactate Freeze-Dried Powder Injection (Junxin), the broad spectrum antibiotic ranks first on use level in the world was approved by the State SFDA (registration number of approval: SDPD H20050501), and also came into the market in September; the sales in three months was $400,000, with a profit of $134,000.
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| In addition to well-established Valsartan Capsules for the treatment of hypertension, Lotus has submitted the following new drugs for SFDA approval and marketing in China: |
- Broad spectrum antibiotic: Gatifloxacin Lactate Injection (Acceptance No.: CXHS0503239 Beijing and CXHS0503240 Beijing).
- Broad spectrum antibiotic: Gatifloxacin Lactate Freeze-Dried Powder Injection (Acceptance No.: CXHS0503288 Beijing and CXHS0503289 Beijing).
- A new drug used to cure acute and chronic ambient circulatory disturbance, and ameliorate the low conation caused by cerebral infarction sequela and affective disturbance: Nicergoline Freeze-Dried Powder Injection (Acceptance No.: CYHS0506815 Beijing).
- A new drug used to cure cerebral edema resulted from various courses of disease, swelling caused by wound or operation and venous return disturbance: Sodium Aescinate Freeze-Dried Powder Injection (Acceptance No.: CYHS0506816 Beijing and CYHS0506817 Beijing).
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| About Lotus Pharmaceuticals, Inc. |
| Lotus Pharmaceuticals, Inc. ("Lotus'') owns and operates Liang Fang Pharmaceutical, Ltd. ("Liang'') and En Zhe Jia Shi Pharmaceutical, Ltd. ("En Zhe''), two Chinese pharmaceutical companies located in Beijing. Liang and En Zhe form a large comprehensive enterprise, which deals in an integration of the production, trade, sales and marketing of pharmaceuticals. Together, they possess some of the most advanced pharmaceutical-production equipment used in China, workshops authenticated by the National GMP, a suite of various medicines produced by Liang and/or En Zhe (together, "Lotus East''), and a large number of high-tech personnel. Lotus East has business and office facilities of 2,000 square meters and a warehouse of 1,000 square meters. Lotus East performs scientific research on new medicines, and the production, wholesale and retail sale of medicines. For more information, visit http://www.LotusEast.com. |
| Safe Harbor Statement Certain statements set forth in this press release constitute "forward-looking statements." 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," "intend," "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 are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission. |
| Contact |
Lotus Pharmaceuticals, Inc.
Adam Wasserman, CFO
Tel: 877-801-0344
Fax: 954-337-2204
info@LotusEast.com |
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