(PR NEWSWIRE) Advanced Plant Pharmaceuticals Inc. - APPI - Manayer Egypt T
Advanced Plant Pharmaceuticals Inc. - APPI - Manayer Egypt Trading and Medical
Supplies Co. Commits to Distribute APPI Products in Egypt
NEW YORK, July 15 /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 Egypt Medical Co. in which Manayer Egypt agrees to distribute
stated minimums of APPI's products in Egypt.
The exclusive Distribution Agreement signed with Manayer Egypt represents
the second distribution agreement APPI has signed with the Manayer group.
Previously, an exclusive distribution agreement was signed with Manayer Najd
Medical Co., a Saudi Arabian Corporation. The agreement signed with Manayer
Najd, called for minimum purchases of APPI product in an aggregate amount of
$2,800,000 over a five-year term.
The Manayer Egypt Agreement, also an 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 Egypt. The agreement states, as soon as
Manayer Egypt receives the Registration Certificates for Lo-Chol and ACA in
Egypt, Manayer Egypt will then purchase APPI's products in an aggregate amount
of not less than $1,863,000, based upon minimum purchase requirements set
forth in the agreement.
Manayer Egypt, the sister company to Manayer Najd, is also under the
ownership of Sheikh Mohamed Abd Al-Raheem Yassin. Manayer Egypt, a well-known
agency in the field of pharmaceuticals, is a company that markets, sells and
distributes pharmaceuticals, medical supplies and cosmetics in Egypt. The
staff at Manayer Egypt has demonstrated great experience in the pharmaceutical
market and will work hand in hand with APPI in order to penetrate the Egyptian
market. Manayer Egypt will dedicate a sales and medical promotion team solely
for the marketing of APPI products in Egypt. Manayer Egypt has achieved a
trusted reputation within Egypt 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.
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.
For additional information, please contact: Barry Clare of Advanced Plant
Pharmaceuticals Inc., 212-402-7878; or Mohamed Sohby of Manayer Egypt Medical,
966-1-4723222
SOURCE Advanced Plant Pharmaceuticals
-0- 07/15/99
/CONTACT: Barry Clare of Advanced Plant Pharmaceuticals Inc.,
212-402-7878; or Mohamed Sohby of Manayer Egypt Medical, 966-1-4723222/
/Web site: advancedplantpharm.com
(APPI)
CO: Advanced Plant Pharmaceuticals
ST: New York, Egypt
IN: MTC
SU: CON
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