Lotus Pharmaceuticals was incorporated on January 28, 2004 in the State of Nevada as S.E. Asia Trading Company, Inc. to sell jewelry and home accessories. The Company changed its name to Lotus Pharmaceuticals, Inc. on December 6, 2006. The Company operates, controls and beneficially owns the pharmaceutical businesses in China of Lotus East under the terms of the Contractual Arrangements. The Contractual Arrangements are comprised of a series of agreements, including Consulting Services Agreements and Operating Agreements, through which the Company has the right to advise, consult, manage and operate Lotus East, and collect and own all of their respective net profits. Lotus East designs, creates prototypes and manufactures its products at its manufacturing facilities located at Beijing, PRC. The Company develops, manufactures, and sells pharmaceuticals in the PRC. It produces crude medicine and drugs in forms of tablets, capsules, granules, eye-drops, and freeze-dried powder injection. The Company has established markets for several drugs that are self-branded or self-patented, including (i) Maixin - valsartan capsules for the treatment of hypertension, (ii) Muxin - eye drops for the treatment of glaucoma and (iii) Yipubishan - octreotide Acetate Injection solution for the treatment of gastric ulcers. Its drug development is focused on the treatment of cerebro-cardiovascular disease, asthma, and diabetes. It has a nationwide sales network to directly and indirectly sell to hospitals, clinics and drugs stores in approximately 30 provinces in China. Additionally, through its more than 8 retail pharmacy locations in Beijing, China, it sells traditional Chinese and American medications and medical treatment equipment.
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