Published on March 3, 2010 at 2:54 AM
Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a growing developer and producer of prescription drugs and licensed national seller of pharmaceutical products in the People's Republic of China ("PRC"), today reported that it had added five new prescription drugs to its products delivered through its national sales channels.
The five new prescription drugs covered by the National Health Insurance Program are produced by third party manufacturers, have proven its market acceptance and are expected to increase market share substantially. Omeprazole Enteric-coated Capsule is a drug for the treatment of duodenal ulcer. The other four drugs are traditional Chinese medicine in capsules, tablets and ointment respectfully for the treatment of chronic prostate infection, psoriasis, influenza, and meridian pain.
CEO, Zhongyi Liu, said, "The pharmaceutical market is growing at more than 20 percent a year in China according to IMS. We are positioned to capture this opportunity especially the OTC market opportunities as a result of China's reform to separate the functions of prescribing and dispensing."
The Company's product pipeline pending final SFDA approval status includes Isosorbide Mononitrate-Sustained Release Tablets for cardiovascular disease, Gliclazide-Controlled Release Tablets for Type 2 diabetes and Laevo-Bambutero for asthma. Lotus Pharmaceuticals' products under pre-clinical studies comprise Lovastatin, Verapamil Hydrochloride, and Valsartan-Controlled Release tablets.
SOURCE Lotus Pharmaceuticals, Inc.