(PR NEWSWIRE) Advanced Plant Pharmaceuticals Inc. - APPI - Signs Exclusive
Advanced Plant Pharmaceuticals Inc. - APPI - Signs Exclusive Distribution
Agreement with Manayer Najd Medical Company
NEW YORK, July 12 /PRNewswire/ -- Advanced Plant Pharmaceuticals, Inc.
(OTC Bulletin Board: APPI) a company that utilizes whole plants to develop all
natural dietary supplements, signed an exclusive Distribution Agreement with
Manayer Najd Medical Co. in which Manayer Najd agrees to distribute stated
minimums of APPI's products in Saudi Arabia.
The exclusive five-year agreement, specifically calls for the distribution
of APPI's clinically proven natural dietary supplements, "Lo-Chol" a
cholesterol lowering agent, and, "ACA" an immune system enhancer, throughout
Saudi Arabia. The agreement states, as soon as Manayer Najd receives the
Registration Certificates for Lo-Chol and ACA in Saudi Arabia, Manayer Najd
will then purchase APPI's products in an aggregate amount of not less than
$2,800,000, based upon minimum purchase requirements set forth in the
agreement.
Manayer Najd Medical Co., a well known Agency in the field of
pharmaceuticals, is the newest member among the ownership of Sheikh Mohamed
Abd Al-Raheem Yassin. Manayer Najd is a company that markets, sells and
distributes pharmaceuticals, medical supplies and cosmetics in Saudi Arabia.
The staff at Manayer Najd has demonstrated great experience in the
pharmaceutical market and will work hand in hand with APPI in order to
penetrate the Saudi market. Manayer Najd will dedicate a sales and medical
promotion team solely for the marketing of APPI products in the Kingdom.
Manayer has achieved a trusted reputation amongst the old agencies in the
Kingdom, and represents several foreign pharmaceutical companies in the
territory.
Sheikh M. Yassin, a noted and respected person in the field of
pharmaceuticals is also the owner of United Pharmaceutical Est., a company
which is the holder of a chain of up to 130 pharmacies distributed all over
the Kingdom of Saudi Arabia. Furthermore, United Pharmaceutical is a
subagent, i.e. the major distributor of the medicine in Saudi Arabia. It has
an independent team for distributing drugs that cover most of the products
registered in the Kingdom. Also, as a subsidiary of Sheikh M. Yassin's group,
is the Al-Salamah Hospital, which is the largest Hospital in Jeddah.
"This is a meaningful agreement for APPI, I believe that with Manayer
Najd's capabilities and reputation in the Saudi market, along with our
outstanding products, we believe that they will easily exceed the minimum
purchase requirements which were agreed upon in the agreement," said Barry
Clare, Chief Operating Officer for APPI. "I'm extremely pleased to be
affiliated with Manayer Najd and with the progress APPI is making in the
overseas market."
"I see this agreement with Manayer Najd, as the beginning of an
international awareness of APPI's products and unique standardization
process," stated Sam Berkowitz, General Manager for APPI. "We anticipate that
this agreement will lead to other similar agreements in Europe and Asia."
The company hopes to announce further agreements in the near future.
Company information, and ordering of product can be obtained on APPI's
Internet web site located at, advancedplantpharm.com.
APPI is a company that develops innovative plant formulations and
technology for clinical application. APPI has met FDA nutritional
specifications for the marketing of its Cholesterol lowering agent "Lo-Chol"
in the USA, and has received the first IND from the FDA for a whole plant
pharmaceutical, Abavca/ACA, which has potential as an immunomodulater in the
treatment of patients infected with HIV, the virus that causes AIDS.
APPI's Whole Plant Pharmaceutical Grade Process is trade secret.
Utilization of the APPI process converts a whole plant into a standardized
pharmaceutical grade product.
This press release contains forward-looking statements. Such statements
are subject to certain risks and uncertainties and actual results could differ
materially from those expressed in any of the forward-looking statements.
Contact:
Advanced Plant Pharmaceuticals Inc. Contact: Manayer Najd Medical
Barry Clare, 212-402-7878 Mohamed Sohby, +966-1-4723222
SOURCE Advanced Plant Pharmaceuticals, Inc.
-0- 07/12/99
/CONTACT: Barry Clare of Advanced Plant Pharmaceuticals, Inc.,
212-402-7878; or Mohamed Sohby of Manayer Najd Medical, +966-1-4723222/
/Web site: advancedplantpharm.com
(APPI)
CO: Advanced Plant Pharmaceuticals, Inc.; Manayer Najd Medical Co.; United
Pharmaceutical Est.; Al-Salamah Hospital
ST: New York, Saudi Arabia
IN: MTC HEA
SU: LIC
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