Lotus OTCs boost retail sales
This article was originally published in The Tan Sheet
Executive Summary
Increased distribution to OTC drug outlets in Beijing helps Lotus Pharmaceuticals grow net retail revenue 52.2 percent to $3.3 million in the Chinese firm's fiscal 2010 first quarter. OTC drugs are a new venture for Lotus, which expects to expand the business with a recently recruited sales team and a storage and distribution facility under construction, the company said May 14. Overall net revenues, largely generated by Lotus' wholesale Rx segment, increased 26.4 percent to $14.9 million in the first quarter 2010. Net income rose 36.1 percent to $4.9 million