BEIJING, Oct. 20 /PRNewswire-Asia/ -- Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company") a growing developer and producer of prescriptions drugs and licensed national seller of pharmaceutical products in the People's Republic of China, today announced its 2010 growth strategy.
Lotus's priorities for the balance of 2009 are
1) deciding what the Company needs to do for its most valuable customers
and continuing on its efforts, and
2) identifying new product and market demand, and
3) preparing for the construction of a new office building on the ground
of its existing plant so that operational efficiency could be achieved
by moving the separate units of sales, production and R&D bases into
one single location. This has been made possible because the
government approved the zoning right of Lotus's property in Beijing to
upgrade to industrial use in June of 2009. Lotus is permitted to build
gross floor areas of 20,353 square meters in four-nine floors above the
ground and one floor underground.
Dr. Zhong Yi Liu, Chairman and CEO of Lotus commented, "Based on the past two years of business expansion, we currently believe that we will achieve our financial goals for the year 2009 and grow steady in the year of 2010." The Company's growth plan for the next year, includes, but is not limited to the following areas:
Expand Sales Network. Lotus currently plans to add 15-20 more distributors by the end of 2010 to its nation-wide sales channels. Lotus attends substantially every major drug expos in China. Lotus's sales representatives are experienced with medical education backgrounds, and are located in ten regional sales centers providing sales and post-sales services to its customers. Regional distributors come into contact with Lotus through words of mouth and public information.
Government hospitals have been Lotus's important direct sales channels. Any additional hospitals to increase the Company believes will have high entry barriers. Lotus plans to attempt to add new hospital channels in 2010.
Increase Quality Drugs Offering. Lotus's brand quality stems from its commitment to quality and efficacy of products. In case State Food and Drug Administration ("SFDA") is slow in approving any of the drugs in the pipeline, Lotus will attempt to produce drugs produced by third parties and sell them through its national sales force and network. By the end of 2010, Lotus currently intends to sell approximately 20 types of prescription drugs including its current 15 prescription drugs. Developing drugs to treat cardio-cerebrovascular, asthma and diabetes diseases remain the strategic focus in Lotus's pipeline development.
Geographic and Production Expansion. Production expansion is a part of Lotus's long term plan to tailor to its demand from drugs development. Lotus currently intends to start building the main body of the new facility in Inner Mongolia in 2010 subject to obtaining financing and self-generated capital. As part of the plan, a wholesales center would be established in Inner Mongolia to facilitate the growing market demand for pharmaceutical drugs in Inner Mongolia and five Northwestern provinces.
About Lotus Pharmaceuticals, Inc. ( http://www.lotuspharma.com )
Lotus Pharmaceuticals, Inc. is a growing developer and producer of prescription drugs and a licensed national seller of pharmaceutical items in the People's Republic of China. Lotus operates Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus's current drug development pipeline is focused on the treatment of cardio-cerebrovascular disease, asthma, and diabetes.
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. 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," "intent," "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 could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including, but not limited to, changes from anticipated levels of sales, future national or regional economic and competitive and regulatory conditions, changes in relationships with customers, access to capital, increased costs, difficulties in developing and marketing new products, marketing existing products, customer acceptance of existing and new products, the time to get new drugs approved by the SFDA and other factors. Additional information regarding risks can be found in the Company's Annual Report on Form 10K and its older filings 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.
For more information, please contact:
Lotus Pharmaceuticals, Inc.
Yan ZENG, CFO
Tel: +86-10-6389-9868
Email: zy@lotuspharma.com
Web: http://www.lotuspharma.com
