it just keeps getting better and better...this a few min ago...stock .69/.81 on 112,000 vol:
(COMTEX) B: Nutraceutix Inc. Licenses Lehigh Valley Technologies to L
B: Nutraceutix Inc. Licenses Lehigh Valley Technologies to Launch Controlled
Delivery Technology - CDT - Decongestants
REDMOND, Wash., Sep 15, 2000 (BW HealthWire) -- Nutraceutix Inc. (OTC BB:
NUTX), a leading provider of proven technologies and products for the
nutraceutical and pharmaceutical industries, has contracted with Lehigh Valley
Technologies, Allentown, Pa. to develop two decongestant products for the
private label market utilizing Nutraceutix' patented Controlled Delivery
Technology(TM) (CDT).
The 12-hour and 24-hour decongestant products targeting extended relief of sinus
and cold symptoms will be launched in mid 2001. A preview of the new products
will be available to attendees of the Private Label Manufacturers Show in
Chicago, Nov. 12-14, 2000.
Lehigh Valley Technologies, a cGMP manufacturer of prescription and
over-the-counter (OTC) drugs with an establishment in decongestant products, has
recently opened a cGMP plant in Allentown.
The company has also concluded a research and development contract with
Nutraceutix for these first two products and is presently negotiating for
several additional OTC and prescription products utilizing Nutraceutix' patented
CDT(TM) technology.
The cough and cold market in the United States reached $3.3 billion in sales in
1999, and shows even more promise for the upcoming 2000 cold and flu season.
U.S. sales of the two new cough and cold products incorporating CDT(TM) are
anticipated to reach between $4 million and $7 million in 2002.
Nutraceutix will receive royalties from the Lehigh Valley Technologies sales of
these two CDT(TM) products commencing in late 2001.
David T. Howard, president and chief executive officer of Nutraceutix, added,
"We are very pleased to be working with Lehigh Valley Technologies on our first
license of technology in the OTC store brand market. This partnership will
provide advanced private label products to the major retail chains and mass
merchandisers nationwide.
"We are very excited to enter the private label market, which offers Nutraceutix
the potential for future increased growth and for making Nutraceutix
technologies available to major retailers such as Wal-Mart, Rite Aid, CVS,
Eckert's and more, through technology licenses to Lehigh Valley Technologies."
Jeff Moshal, CEO of Lehigh Valley Technologies added, "We are extremely excited
about Nutraceutix' CDT(TM) technology and the opportunity it offers to enter the
store brand market with new, unique, patented products."
Nutraceutix Inc. possesses proven technologies and products for the
nutraceutical industry. In addition to patented ingredients like Calcium
D-Glucarate, Nutraceutix provides patented and proprietary technologies like
CDT(TM) Controlled Delivery Technology, MDT(TM) Molecular Dispersion Technology,
SET(TM) Self Emulsifying Technology and LiveBac(R) Probiotics.
Nutraceutix technologies provide distinctive supplements with tangible benefits
for the consumer and competitive commercial advantages. For more information on
Nutraceutix, please call 800/548-3222, or visit www.nutraceutix.com.
Lehigh Valley Technologies is a cGMP pharmaceutical company focusing on three
specific areas: the decongestant market, pain control, and addiction management.
Lehigh Valley Technologies intends to bring the new controlled delivery
technology available through Nutraceutix' patented CDT(TM) technology to these
therapeutic classes.
Except for any historical information, the matters discussed in this press
release contain forward-looking statements, including activities, events or
developments that the company expects, believes or anticipates will or may occur
in the future. Such statements are subject to a number of assumptions, risks and
uncertainties.
Readers are cautioned that such statements are not guarantees of future
performance and that actual results or developments may differ materially from
those set forth in the forward-looking statement.
CONTACT: ignite marketing group
Margaret Anderson, 480/785-5252
Margaret@ignitemg.com
www.nutraceutix.com |
