BEIJING, July 12, 2007 (PRIME NEWSWIRE) -- Lotus Pharmaceuticals, Inc. (OTCBB:LTUS) announced important developments in the formulation of a Hepatitis B drug that could add an additional $6 million annually in net profits for the Beijing company.
Dr. Liu Zhongyi, Lotus CEO and founder, announced: "In April 2007, our Company invested about $750,000 to develop injectable Ganbifu, which is primarily used for the treatment of chronic viral type B Hepatitis or HBV.
"This medication is very effective in treating HBV. We are now starting the required animal experimentation. It is expected to reach the market in 2009, and its annual sales revenues are forecast up to $20 million annually, with profits approaching $6 million.
"According to the Chinese Academy of Medical Sciences, about 170 million Chinese are infected chronically with HBV and 10% suffer from chronic hepatitis. Around half a million Chinese die from Hepatitis B caused hepatocellular carcinoma and endstage cirrhosis each year. Lotus is dedicated to improving the health and quality life of the Chinese citizenry, and this is one step in that direction," concluded Dr. Liu.
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.
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