I just started following UMSD but own HVSF which had a high of $4
today and believe it will pop above that tomorrow. Attached is report
that I feel Kostech will release tomorrow. gooood hunting...
Harvard Scientific Corp. receives letter of intent
from Asta Medica AG
RENO, Nev.--(BUSINESS WIRE)--Jan. 20, 1997--Harvard Scientific Corp. (OTC
BB:HVSF) a Nevada corporation, announced Monday through its European licensee,
Pharma MAEHLE GmbH, it has received a letter of intent from Asta Medica AG-a
Degussa company, for exclusive manufacturing and distribution rights for the
company's PaGE-1 product in Eastern and Western Europe.
The company is weighing the terms of this proposal against other potential
opportunities in that region. Pharma MAEHLE GmbH is located in Isernhagen,
Germany, and estimates Harvard Scientific's cumulative net royalties on European
sales in years 1997-2001 will exceed $60-million.
Asta Medica AG-a Degussa company, located in Frankfurt, Germany is one of the
largest drug companies in Germany with extensive international research facilities.
The company has 26 subsidiary companies and 14 branches throughout the world.
Degussa Corp. is an international leader in the development and manufacture of
chemicals, pharmaceutical specialities and precious metals.
Company President and CEO, Ian P. Hicks stated: "Asta Medica has an excellent
international distribution network. Our strategic focus is directed at attaining worldwide
marketing approval and developing distribution channels for our product in the most
effective and expeditious manner."
Harvard Scientific Corp. is a biopharmaceutical company that develops, markets and
distributes products relating to liposomal delivery of Prostaglandin E-1 for the
treatment of male erectile dysfunction and impotency. The company's patent pending
process allows the Prostaglandin E-1 to be administered as a liquid via a painless
delivery system to produce an erection. Prostaglandin E-1 is a naturally occurring
vasodilator originally approved by the U.S. FDA for intravenous infusion in neonates
and was first approved by the FDA for treating male erectile dysfunction via needle
injection in 1995. The company believes that its product represents a tremendous
treatment advantage over other delivery systems currently being utilized in the industry
represented by needle and syringe injection or an insertable pellet.
From time to time the company may issue forward looking statements which involve
risks and uncertainties. This statement may contain forward looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Actual results could differ
and any forward looking statements should be considered accordingly.
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