BOCA RATON, Fla., July 13, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced that its Beijing pharmaceutical partner, Lotus Pharmaceuticals, Inc., has advanced in the development of a treatment for Hepatitis B and also increased its number of local outlets to 15 retail stores.
Lotus (OTCBB:LTUS) was recently joined by Gold Horse International, Inc. (OTCBB:SPEH) as graduates from the Genesis capital growth partnering program. Genesis maintains a significant equity position in each company, and provides management and marketing guidance on a continual basis. Four other Chinese companies, at various stages of the program, are under contract.
Dr. Liu Zhongyi, Lotus CEO and founder, announced: "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.
"This medication is very effective in treating 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."
Lotus also announced that it has established five new local retail drug stores. The Company estimates that annual sales revenues, from these outlets, should be as much as $2 million, with net profits forecast up to $500,000. This will bring the total number Lotus retail drug stores to 15 in Greater Beijing.
Dr. Liu added: "Starting this month, Lotus will spend about $100,000 each month in the nationally-distributed Health Daily to build the company's image and extensively advertise our products. Lotus is committed to expanding its market share in an effort to become a national brand."
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that partners with qualified Chinese companies to expand their domestic and international market opportunities. The customized private-to-public program seeks to tap in to Western capital markets to attain this goal. Commitment, dedication, and expertise are the key components to the Genesis "Mission Statement." It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined "partner companies." Genesis makes a long-term commitment with management consultation, board of directors composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners' leadership potential in China and attempts to increase high-margin, predictable earnings. For more information, visit http://www.Genesis-China.net.
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