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news.Lotus Pharmaceuticals has reported new developments in the formulation of its hepatitis B drug that could add an additional $6 million annually in net profits for the Beijing company.
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Dr Liu Zhongyi, Lotus CEO and founder, said, “in April 2007, our company invested about $750,000 to develop injectable Ganbifu, which is primarily used for the treatment of chronic viral type B Hepatitis or HBV.
“We are now starting the required animal experimentation. It is expected to reach the market in 2009, and its annual sales revenues are forecast up to $20 million annually, with profits approaching $6 million.”
According to the Chinese Academy of Medical Sciences, about 170 million Chinese are infected chronically with HBV and 10% suffer from chronic hepatitis. Around half a million Chinese die from hepatitis B caused hepatocellular carcinoma and endstage cirrhosis each year.