Lotus Pharmaceuticals announces patent pending of Gliclazide-Controlled Release Tablets

Lotus Pharmaceuticals announces patent pending of Gliclazide-Controlled Release Tablets

2009/7/31

Lotus Pharmaceuticals, Inc. ("Lotus" or the "Company") a growing developer and producer of prescriptions drugs and licensed national seller of pharmaceutical products in the People's Republic of China, yesterday reported it received notice of patent pending from the State Intellectual Property Office of the People's Republic of China for its innovative patent application of Gliclazide-Controlled Release Tablets submitted in 2008. Meanwhile, Gliclazide-Controlled Release Tablets has undergone pre-clinical evaluation approved by the State Food and Drug Administration in 2009.

Gliclazide-Controlled Release Tablets is a modified controlled-release antidiabetic drug to treat type 2 diabetes. The market size of diabetes drugs is estimated to be approximately $1 billion in China (1) and the Company believes it will continue to grow as living standards have improved. "We have made additional investment to develop a controlled-release version of a product and our R&D team is knowledgeable in controlled delivery for potential and approved new pharmaceuticals," said Chairman and CEO of Lotus Dr. Liu. "For the development of our product portfolios, we emphasize on the applying of controlled-release technologies in the preclinical development of drugs to maximize market exposure. We believe formulations of this particular innovation may potentially offer greater effectiveness in the treatment of diabetes by minimizing impacts from gastric acid, and reduced side-effects by minimizing peak plasma concentrations."

(1) Source: CHINA ANTI-DIABETIC DRUG MARKET REPORT prepared by Life Science Intelligence




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