BEIJING, Feb. 6 /Xinhua-PRNewswire/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a pharmaceutical company in the People's Republic of China ("PRC"), today 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 http://www.LotusEast.com.
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.
