(BSNS WIRE) Wasatch Pharmaceutical Inc. - Update
Wasatch Pharmaceutical Inc. - Update
Business Editors/Health and Medical Writers
MIDVALE, Utah--(BUSINESS WIRE)--Aug. 31, 1999--Wasatch
Pharmaceutical Inc. (OTC BB:WASP). Many inquiries have been made
concerning the effectiveness of our over-the-counter (OTC) products
being submitted for FDA approvals as opposed to the success of those
same products in a clinical setting under the supervision of a
physician. These questions concern a recent news release indicating
our application for approval on seven OTC products which include
Cystic Acne, Folliculitis, Skin Rejuvenation, Contact Dermatitis,
Seborrhea, Cold Sores and Athletes Foot.
In a clinical setting under the supervision of a physician, a 95%
success rate is achieved with all seven skin disorders. Outside the
clinic, with the exception of Cystic Acne and lesser grades of Acne,
we would expect to see results that approximate the results within our
two Utah clinics. For Acne, we would expect to see a success rate of
approximately 70% due to the high number of teenagers in this group,
some of whom will not be committed to a clear complexion.
Another matter that has come to our attention are Web site
comments that are erroneous. For the most part these comments have
been accurate, but in some cases we feel obliged to correct
statements. Recently, it was indicated that the Company has either a
significant amount of convertible debentures or Preferred Shares
outstanding. This is inaccurate. The Company has no convertible
debentures outstanding and only 49,258 Preferred Shares.
The Company continues to pursue all of its goals as previously
announced, including high growth over the next six years with
significant revenues coming in the second year from additional
Company-owned clinics and the introduction of new OTC products.
NOTE: Any statements released by Wasatch Pharmaceutical, Inc.
that are not strictly historical are forward-looking statements
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Editors and investors are cautioned
that forward-looking statements invoke risk and uncertainties that may
affect the company's business prospects and performance. These include
economic, competitive, governmental, technological and other factors
discussed in the company's filings with the Securities and Exchange
Commission.
--30--DH/na*
CONTACT: Wasatch Pharmaceutical Inc., Midvale
Gary Heesch, 801/272-1709
KEYWORD: UTAH
INDUSTRY KEYWORD: MEDICINE PHARMACEUTICAL BIOTECHNOLOGY
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