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COMPANY NEWS » TOP China Pharmas » Lotus Pharmaceuticals  1    
found files: 9
Lotus Pharmaceuticals »21/08/2007 [Company watch]
Lotus Pharmaceuticals, Reports $21 Million in Revenues and $4.1 Million in Net Profits in Quarterly Filing

Lotus Pharmaceuticals, Inc. released its second quarter results, with revenues topping $21 million, net profits of $4.1 million, and net assets of $17 million. r. Adam Wasserman, Lotus Chief Financial Officer, reported: ``Total revenues for the six months ended June 30, 2007 were $21,095,000 as compared to total revenues of $16,047,000 for the six months ended June 30, 2006, an increase of $5,048,000 or approximately 31.5%. Lotus' working capital position increased $4,783,000 to $13,429,000 at June 30, 2007 from $8,646,000 at December 31, 2006.'' Dr. Shaohua Tan, Genesis Director in Beijing, observed: ``Lotus seems to go from strength-to-strength. Just six weeks ago, Gold Horse International joined Lotus as a graduate from our private-to-public program. We are hopeful that a third Chinese partner company, prominent in environmental technologies, will join these alumni as a new U.S. public company before the end of Genesis' current fiscal year.''...   more»


Lotus Pharmaceuticals »17/01/2008 [Company watch]
Lotus Pharmaceuticals Inc. Retains CCG Elite

Lotus Pharmaceuticals, Inc. ("Lotus" or "the Company"), a leading pharmaceutical company in the People's Republic of China ("PRC"), today announced that it has retained CCG Elite to design and execute its investor relations campaign...   more»


Lotus Pharmaceuticals »22/04/2008 [Company watch]
Lotus Actively Increasing Its Share of China’s Pharma Market

In The Odyssey, the lotus-eaters were a tribe of people who were addicted to the lotus plant, a plant that left them in an opium-like state of blissful apathy. It does not seem like an appropriate name for Lotus Pharmaceuticals (LTUS.OB), because the company is anything but apathetic. Instead, it seems intent upon increasing its share of China’s pharmaceutical market. Lotus Pharmaceuticals reported it made a profit of $11.2 million on revenues of $56.9 million in 2007. For the year, profits almost tripled, while revenues increased 57%. Without one-time items, net income would have been $8.5 million. Even at the lower figure, net earnings were 19 cents per fully diluted share, a jump of 34% over 2006. On December 31, 2007, Lotus had $4.6 million in cash and $24.7 million in working capital. Already in 2008, Lotus has floated a $4.6 million offering of Series A Convertible Redeemable Preferred Stock. The company used $2.6 million to repay its 14% secured convertible notes, and the rest will be added to working capital....   more»


Lotus Pharmaceuticals »27/05/2008
Lotus revenue growth but not all sections

Lotus Pharmaceutical [LTUS.OB] said its Q1 revenues rose 41% to $11.7 million, and net income climbed 19% to $1 million (see story). Its third-party manufacturing business experienced a 50% downturn from year-earlier levels, but its other operations – pharmaceutical production and wholesale distribution – did well. To continue the growth, Lotus paid $7 million to buy a new asthma medicine, Laevo-Bambutero, which must still be approved by the SFDA. Lotus expects a 2012 launch for the drug, if all goes well....   more»


Lotus Pharmaceuticals »27/07/2008 [Company watch]
Lotus Announces Plans for New Manufacturing Facility

Lotus Pharmaceuticals bought land rights to property in Inner Mongolia on which it will construct a manufacturing facility. Liang Fang Pharmaceutical Company, a China subsidiary of Lotus, paid 108 million RMB ($15.5 million) for the rights, of which 39 million RMB ($5.8 million) was paid to Cha You's Cha Ha Er Industrial Garden District. Lotus anticipates building a 40,000 square meter facility on the property. It projects the facility will cost 160 million RMB ($23 million) and production machinery will add another 182 million RMB ($26.0 million) to the price. By contract, construction must begin by September 3, 2008. Lotus has set aside 50 million RMB ($7.1 million) for working capital for the project. The remaining money for the facility will come from bank loans and government loans and grants. Several local government agencies have also agreed to waive user fees for the facility, and a package of tax abatements may be available. Lotus expects the facility to be completed and equipped by December 2010, with production starting after receiving government Good Manufacturing Practices [GMP] approval. The first products planned for manufacture at the new factory include saline for intravenous use and blood plasma substitutes. Manufacturing and distribution of each product will require separate government approvals. Once its distribution network is enlarged, Lotus intends to produce prescription items for distribution to hospitals....   more»


Lotus Pharmaceuticals »20/08/2008 [Company watch]
Lotus Pharma Reports Higher Revenues, Lower Net

Lotus Pharmaceuticals, Inc. (OTCBB: LTUS) released its Q2 financial report, which showed the company followed a theme similar to several other China biopharmas this quarter: revenues are sharply higher, but net income fails to keep pace. In fact, Lotus said its net income actually slipped lower than the year earlier period. In terms of actual numbers, Lotus’ revenues climbed a more-than-respectable 51% to $19.4 million, but profits were 27% lower at $2.2 million. Adding back in a non-cash financing cost does not change the picture greatly. Lotus’ non-GAAP net income was $2.5 million, a 26% decline from Q2 in 2007....   more»


Lotus Pharmaceuticals »31/07/2009 [Company watch]
Lotus Receives Diabetes Drug Patent

Lotus Pharmaceuticals has received a patent pending notice from China Intellectual Property Office for Gliclazide-Controlled Release Tablets, a controlled release form of the hypoglycemic drug gliclazide that is aimed at type 2 diabetes....   more»


Lotus Pharmaceuticals »11/12/2009 [Industry news]
Lotus Pharmaceuticals appoints Mr Jinzhong Han OTC division head

Lotus Pharmaceuticals, Inc. (Lotus), a growing developer and producer of prescription drugs and licensed national seller of pharmaceutical products in China reported that effective December 1, 2009, Liang Fang, a controlled operating entity of Lotus, appointed Mr. Jinzhong HAN to be General Manager of the Company\'s Over-the-Counter Drug division (OTC Division)....   more»


Lotus Pharmaceuticals »30/04/2010 [Company watch]
Lotus Pharma to commence asthma drug trial in China

Lotus Pharmaceuticals, a developer, manufacturer and seller of pharma products in China, reported that its asthma drug Laevo-Bambuterol has received approval to conduct clinical trials from China\'s State Food and Drug Administration (SFDA)....   more»

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