April 30, 2010 (FinancialWire) — Lotus Pharmaceuticals, Inc. (OTCBB: LTUS), a Chinese developer, manufacturer and seller of medicine and drugs, said that its asthma drug Laevo-Bambuterol has received approval from China's State Food & Drug Administration's to begin clinical trials.

According to Lotus, R-Bambuterol Hydrochloride Tablets is categorized as a Class 1 new drug. Its preclinical studies show that it is more effective and have lower toxicity than Bambuterol, a popular asthma drug currently on the market.

The company said it is communicating with experts from the SFDA's Drug Review and Evaluation Center on the designs for clinical trials and expects the new product to launch in 2013-2014.

China-based Lotus Pharmaceuticals operates its business through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd.

Lotus' current drug development is focused on the treatment of cerebro-cardiovascular disease, asthma, and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.

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