Lotus Pharmaceuticals, Inc. Purchases Intellectual Property Rights to an Established Prescription Drug

Lotus Pharmaceuticals, Inc., today announced that contractually controlled Beijing Liang Fang Pharmaceutical Co., Ltd. entered into an intellectual rights transfer contract with Beijing Yipuan Bio-Medical Technology Co., Ltd. in December 2008 to acquire the drug Yipubishan, a highly effective and stable octreotide acetate injection solution, according to a clinical research report issued by Beijing Union Medical College Hospital Center for Clinical Pharmacology, used to treat the symptoms of gastric ulcers and hemorrhages of the upper digestive tract since 2004.