Lotus Pharma Reports Higher Revenues, Lower Net

Lotus Pharmaceuticals, Inc. 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. Lotus blamed the shortfall on its sales costs, which climbed almost eight-fold. More details...

Stock Symbol: (OTCBB: LTUS)