BEIJING, June 29 /PRNewswire-Asia-FirstCall/ -- 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 a Good
Supply Practices ('GSP') certificate from the Chinese State Food & Drug
Administration ('SFDA') for the second time since 2003.
Liang Fang Pharmaceutical, Ltd., operated by Lotus, passed the SFDA's GSP
field inspection and documentation requirement for, among other items, its
sales management system, storage and transportation system, qualifications of
medical and management personnel, drugs quality control system, drugs labeling
and packaging. To maintain drugs safety, post sale services and systematic
quality control of drugs out of production into the circulation, the SFDA
requires licensed drug distributors to follow the international principles and
guidelines of GSP. The SFDA focuses on quality assurance systems, tracking
systems, storage and transportation systems and handling procedures and
inspects drugs distributors every five years.
'We are delighted to be awarded with GSP certification because it
represents the highest honor that a licensed pharmaceutical sales enterprise
is eligible to receive in China for its compliance with the government's high
quality standards and efficient management system control,' commented Dr.
Zhongyi Liu, Chairman and CEO of Lotus. 'We are committed to providing safe
drugs and in addition to our current state-of-art warehouse, we are planning
on the construction of a high standard modern storage facility of 10000 sqm in
Inner Mongolia in order to meet the increasing demand for our drugs.'
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' 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.
Lotus Pharmaceuticals, Inc.
Yan Zeng, CFO
Email: zy@lotuspharma.com
Web: http://www.lotuspharma.com
SOURCE Lotus Pharmaceuticals, Inc.
