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Lotus Purchases Ulcer Drug for $7.9 Million

publication date: Feb 19, 2009

Lotus Pharmaceuticals (路坦制药有限公司) has bought the rights to Yipubishan, an octreotide acetate injection solution, that treats the symptoms of gastric ulcers and hemorrhages of the upper digestive tract. Lotus paid 54 million RMB ($7.9 million) for the drug.  That was less than its 2008 revenues, which were 67 million RMB ($9.8 million) with a 75% gross profit margin. Lotus projects 75 million RMB of revenue from Yipubishan in 2009 and a 25% per year growth rate through 2011. More details...

Stock Symbol:  (OTCBB: LTUS)

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