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Press Releases |
| Lotus Pharmaceuticals Announces Launch of Four New Drugs with Increased Earnings Forecast |
BOCA RATON, Florida, May 11, 2006 -- Lotus Pharmaceuticals, Inc., based in Beijing, has commenced programs to increase its 2006 revenues above $20 million with over 20% in net profits; to launch its new U.S. public corporation through a reverse merger; and to establish Lotus as a national brand in China. New facilities, manufacturing capability, and four drugs scheduled to come to market in the fall all contributed to the increased forecast. |
| At present, Lotus is undergoing an independent audit of its financial statements by a New York certified public accounting firm that will enable it to become a publicly traded company during this calendar year. Since March 2006, Lotus increased its revenues and profits forecasts by over 30% based on first quarter sales—exceeding $5 million—and these three major developments, announced last week: |
- 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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