GeoPharma Adds India, Nepal, Bangladesh, Sri Lanka and South Korea as New Distribution Channels for Mucotrol(TM)
21 Julio 2008 - 6:55AM
PR Newswire (US)
LARGO, Fla., July 21 /PRNewswire-FirstCall/ -- GeoPharma, Inc.
(NASDAQ:GORX) (the "Company") announced today the expansion of the
distribution agreement between the Company and Cura Pharmaceutical
Co. (Cura). The original agreement signed between Cura and
GeoPharma provided Cura the exclusive U.S. distribution rights of
GeoPharma's patented oral Mucotrol(TM) wafer, which had received
FDA approval as a medical device. The recent extension of the
primary agreement allows for additional partners to be secured,
proliferating the acceptance of Mucotrol(TM) in other regions of
the world previously unexplored. The new aspect of the agreement
embraces two new regional partners and allows for the dissemination
of Mucotrol(TM) in India, Nepal, Bangladesh, Sri Lanka and South
Korea. Mucotrol(TM) is a concentrated oral gel wafer that was
designed as a method of pain management for patients suffering from
Oral Mucositis. Oral Mucositis is the formation of lesions on the
inside of a patient's mouth which commonly present themselves after
undergoing chemotherapy treatments for cancer. The Mucotrol(TM)
wafer forms a soothing coating on the inside of the patient's
mouth. The coating that is created dramatically reduces the
sensitivity of these mouth lesions, improving the general comfort
of the patient and making activities such as eating much more
tolerable. Commenting on the amendment, GeoPharma CEO Mihir K.
Taneja stated, "The expansion of the Cura agreement to include
additional worldwide partners is another example of the continued
development of GeoPharma's business plan. We are pleased that the
Mucotrol(TM) product is in higher demand and expanding its customer
base." "The opportunity to increase the scope of the Mucotrol
agreement was beneficial to all involved," said Cura Pharmaceutical
President Fabio Lanzieri. "GeoPharma garners very attractive
avenues of additional distribution, while Cura enhances its global
presence aligning itself with key strategic partners in some of the
fastest growing regions of the world. It would not surprise me at
all to see additional business being conducted by GeoPharma and
Cura in other product lines throughout the region as a result of
this initial collaboration." ABOUT CURA PHARMACEUTICAL, CO.: Cura
Pharmaceutical Co., Inc is a New Jersey based pharmaceutical
marketing company that focuses on select niche markets through the
offering of specialty products and services. Cura's strategy is to
provide products to the American Healthcare Practitioner and to
create partnerships worldwide that satisfy a distinct unmet medical
need and are cost effective. These products often are not readily
accessible and provide enhancements to existing treatments. Cura's
management team has extensive experience in the industry, with over
100 years of combined pharmaceutical experience. ABOUT GEOPHARMA,
INC.: GeoPharma, Inc. is a rapidly growing Bio/Pharma company with
a diversified business model participating in 3 main market
segments: Specialty Pharma, Manufacturing, and Distribution. The
Specialty Pharma division specializes in the formulation of generic
drugs for human and veterinary usage and the development of medical
devices used by oncologists and other medical professionals. The
Manufacturing and Distribution divisions manufacture, package, and
distribute generic drugs, nutraceuticals, cosmetics, and functional
food products for companies worldwide. GeoPharma's growth strategy
is to capitalize on its research and manufacturing expertise to
develop medical devices and high margin generic drug products for
niche markets with high barriers to entry. GeoPharma's competitive
advantage in these areas is in its ability to navigate the
challenges that such market pursuits present effectively. Currently
GeoPharma employs over 300 people and operates facilities in
Florida, Maryland, Pennsylvania, Nevada, Rhode Island, and Texas
utilizing over 330,000 sq. ft. of office, warehouse, manufacturing
and laboratory facilities. For further information visit the "For
Investors" section of the GeoPharma website at
http://www.geopharmainc.com/. FORWARD LOOKING STATEMENTS This press
release may contain statements, which constitute forward- looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including those regarding the company and its
subsidiaries' expectations, intentions, strategies and beliefs
pertaining to future performance. All statements contained herein
are based upon information available to the company's management as
of the date hereof, and actual results may vary based upon future
events, both within and without management's control. Important
factors that could cause such differences are described in the
company's periodic filings with the Securities and Exchange
Commission. DATASOURCE: GeoPharma, Inc. CONTACT: Alexander Nachman,
Director of Investor and Media Relations, GeoPharma, Inc.,
+1-727-471-0850, ext. 243, Web site: http://www.geopharmainc.com/
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