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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
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» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
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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.

 
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. Lotus filed for the patent in 2008. According to Lotus, the SFDA has approved the company’s pre-clinical evaluation of the drug. In a release, Lotus officials said the controlled release delivery system will reduce the impact of gastric acid on the drug and also help contain other side effects by reducing its peak concentration in the bloodstream. Lotus did not supply a time line for clinical trials and eventual approval of Gliclazide-Controlled Release Tablets. It did, however, cite an independent study that put the market value of all diabetic drugs in China at $1 billion. Lotus is focusing its drug development pipeline on the treatment of cerebro-cardiovascular disease, asthma, and diabetes. In Q1 of 2009, Lotus biggest revenue drivers were Valsartan Capsules, Brimonidine Tartrate Eye Drops and Yipubishan-Octreotide Acetate Injection. The company said its selling price for the three drugs was 38% lower in Q1 of this year than the year-earlier period, but volume was 67% higher. As a result, the company’s revenues were virtually flat at $11.8 million. Net income, however, climbed 258% to $3.6 million and cash flow hit $7 million.

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