here is what is holding MEDC up:
Friday June 1, 8:00 am Eastern Time
Press Release
SOURCE: Med-Design Corporation
Med-Design Enters Co-Promotion Agreement With
Abbott Laboratories to Market Safety Pre-Filled Syringe to Global
Pharmaceutical Industry
VENTURA, Calif., June 1 /PRNewswire/ -- The Med-Design Corporation (Nasdaq: MEDC - news), a leader in the design
and development of safety needle products for medical use, announced today that the company has signed a five-year
co-promotion agreement with Abbott Laboratories (NYSE: ABT - news), specifically working with Abbott One 2 One(TM)
Global Pharmaceutical Services. Abbott One 2 One is a world leader in full-service parenteral contract manufacturing with a
broad and unique line of drug delivery systems and integrated manufacturing solutions.
As part of the agreement, Abbott One 2 One will promote Med-Design's Safety Pre-filled Syringe. Abbott One 2 One will
promote the syringe in conjunction with Abbott's unique parenteral contract manufacturing capabilities, which includes filling and
finishing of pharmaceuticals and biologics into vials, cartridges, syringes and I.V. bags for other pharmaceutical companies who
contract for these services. The co-promotion agreement was effective May 2001.
``We are excited that Med-Design has signed this significant agreement with Abbott, the world's leading parenteral
pharmaceutical outsourcing supplier,'' said James Donegan, chairman and CEO of Med-Design. ``Their strength, experience,
sales and marketing network and existing market share in the pharmaceutical manufacturing industry will allow us to quickly
capitalize on the potential market for this device, which could exceed 300 million units per year in the U.S. alone.''
tom |
