Published:
GeoPharma Adds India, Nepal, Bangladesh, Sri Lanka and South Korea as New Distribution Channels for Mucotrol(TM)
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) inIndia,
Nepal,Bangladesh,Sri Lanka andSouth 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 aNew 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, andTexas 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 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.
SOURCE GeoPharma, Inc.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: ,BIO,MTC,HEA,FL-GeoPharma-Mucotrol
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