Lotus expands OTC business
This article was originally published in The Tan Sheet
Executive SummaryThe Beijing-based pharma says it signed OTC drug purchase agreements with 11 manufacturers during its second quarter, when retail revenues grew 123 percent to $6.2 million, thanks largely to OTC direct sales to Beijing outlets. Lotus Pharmaceuticals only recently entered the OTC business with a new sales team and an under-construction distribution facility (1"The Tan Sheet" May 24, 2010, In Brief). The firm said Aug. 16 its overall net revenue climbed 19.4 percent to $12.7 million in the April-June period and 23.6 percent to $24.2 million in the half
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