Lotus Pharmaceuticals, Inc. develops, manufactures and distributes pharmaceutical products in the People’s Republic of China. A rapidly growing company, Lotus is focused on developing new products that address their customers’ real needs. The company manufactures branded drugs and distributes them along with products produced by third-party manufacturers.
The Chinese government has increased overall spending on healthcare in recent years, and improving rural healthcare is a national priority. The pharmaceuticals market in China is expected to expand twice as fast as the global pharmaceuticals market. In addition to a favorable political and regulatory environment, this growth is driven by rising incomes and China’s growing elderly population.
Lotus recently completed a two-for-one reverse split of its common stock in order to meet minimum share price requirements in connection with its application to a national U.S. securities exchange. Mr. Zhongyi Liu, Lotus’ Chairman and Chief Executive Officer, stated, “We believe that we initiated the process at an appropriate time and that it is in the best interests of our stockholders and the Company’s future growth.”
In other recent news, Lotus announced that it will add two additional stories to its new headquarters building in Chaoyang District, Beijing, which is currently under construction. Expecting its total investment in the construction of the Beijing facility to be no more than $48 million, the company plans to finance all of the costs associated with the facility through internal operations.