BEIJING, July 30 /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 reported it received notice of patent pending from the State Intellectual Property Office of the People's Republic of China for its innovative patent application of Gliclazide-Controlled Release Tablets submitted in 2008. Meanwhile, Gliclazide-Controlled Release Tablets has undergone pre-clinical evaluation approved by the State Food and Drug Administration in 2009.
Gliclazide-Controlled Release Tablets is a modified controlled-release antidiabetic drug to treat type 2 diabetes. The market size of diabetes drugs is estimated to be approximately $1 billion in China(1) and the Company believes it will continue to grow as living standards have improved. "We have made additional investment to develop a controlled-release version of a product and our R&D team is knowledgeable in controlled delivery for potential and approved new pharmaceuticals," said Chairman and CEO of Lotus Dr. Liu. "For the development of our product portfolios, we emphasize on the applying of controlled-release technologies in the preclinical development of drugs to maximize market exposure. We believe formulations of this particular innovation may potentially offer greater effectiveness in the treatment of diabetes by minimizing impacts from gastric acid, and reduced side-effects by minimizing peak plasma concentrations."
(1) Source: CHINA ANTI-DIABETIC DRUG MARKET REPORT prepared by Life
Science Intelligence
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 cerebro-cardiovascular disease, asthma, and diabetes. More than 8,000 products are sold by Liang Fang directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces.
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
