The team said it ended its contract with the 28-year-old Lobato in "mutual consultation" while suspending both Antwan Tolhoek and Pascal Eenkhoorn for two months.
Tolhoek (23) and Eenkhoorn (20) have been excluded from all team activities, including the team presentation, the training camp and the participation in races during that period.
While acknowledging none of the rider's actions had violated UCI and/or WADA rules the team said it was a "severe and unacceptable violation of the team regulations".
The trio is alleged to have taken a cocktail of unauthorised sleeping medications and were discovered in an unconscious state before they were taken to the hospital.
"The team takes responsibility for the health of the riders, and experiments that endanger their health are not accepted," LottoNL-Jumbo said in a statement.
"In the context of the talent development policy that Team LottoNL-Jumbo advocates, the team has reached out to Tolhoek and Eenkhoorn to provide them with a continuing opportunity to develop into an exemplary professional cyclist."