Lotus Pharmaceuticals,
Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a
pharmaceutical company in the People's Republic of China ("PRC"),
announced that it has achieved significant milestones in the development of
isosorbide mononitrate sustained release tablet, a highly effective drug
for the prevention and treatment of angina.
Based on extensive clinical trials, isosorbide mononitrate sustained
release tablet has shown optimistic results in a study of 1,350 patients
with angina who received the drug for over six months. Lotus plans to
release the details of the study, and expects to launch the drug pending
the approval from SFDA in 2009. Approximately 0.4 to 0.8 million people in
China suffer from angina and that figure is anticipated to grow over the
coming years due to increases in the aging population. Lotus estimates it
will achieve a 10% to 20% market share within two years of launching the
drug and a 30% market share within three years.
The drug dilates the blood vessels and lowers the blood pressure.
AstraZeneca sells the drug under the trade name Imdur. The components of
the drug include matrix tablets, isosorbide mononitrate, and
hydroxypropylmethylcellulose (HPMC). Both components are available at low
cost and the tablet is easy to manufacture in large scale, which may result
in high profit margins for Lotus.
"We have achieved significant milestones for the development of the
isosorbide mononitrate sustained release tablet in both pre-clinical trials
and manufacturing capabilities," said Dr. Zhongyi Liu, Chairman, CEO and
President of Lotus Pharmaceuticals, Inc. "We look forward to introducing
this drug, which will diversify the portfolio of our major drugs."
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. ("Lotus") controls and operates Liangfang
Pharmaceutical, Ltd. ("Liangfang") and Enze Jiashi Pharmaceutical, Ltd.
("Enze"), two Chinese pharmaceutical companies located in Beijing.
Liangfang and Enze 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 Liangfang
and/or Enze (together, "Lotus East"), and a number of high-tech personnel.
Lotus East has business and office facilities of 2,000 square meters, a
warehouse of 1,000 square meters and operates ten retail pharmacies in the
Beijing area. Lotus East performs scientific research on new medicines, and
the production, wholesale and retail sale of medicines. For more
information, visit LotusEast.
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. Such statements involve known and unknown
risks, uncertainties and other factors that could cause the actual results
of the Company to differ materially from the results expressed or implied
by such statements, including changes from anticipated levels of sales,
future national or regional economic and competitive and regulatory
conditions, changes in relationships with customers, access to capital,
difficulties in developing and marketing new products, marketing existing
products, customer acceptance of existing and new products, and other
factors. Additional information regarding risks can be found in the
Company's Annual Report on Form 10K filed 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.
Lotus Pharmaceuticals, Inc
LotusEast