FANTASTIC NEWS ON THE NEW PRODUCT FRONT Equidyne Corporation Announces FDA Approval of
Its New Large Capacity INJEX System
-New .5ml System Allows the INJEX(TM) Products to Compete for Over 80% of All Subcutaneous
Injections and Opens New Clinical Markets-
SAN DIEGO--(BUSINESS WIRE)--March 15, 2001-- EQUIDYNE CORPORATION (AMEX: IJX - news) announced
today it has received approval from the U.S. Food and Drug Administration (``FDA'') for its larger capacity .5ml needle-free drug delivery system (INJEX(TM)50). The INJEX(TM)50 System, which is unique to Equidyne, together with its standard .3ml system (INJEX(TM)30), increases the worldwide application for the INJEX(TM) products four fold. The INJEX(TM)50 System opens up the large Clinical market for Equidyne and allows it to compete with conventional needles in important markets such as local anesthesia, vaccinations, human growth hormone, and other subcutaneous therapies which require doses over .3ml.
Commenting on the approval, J. Randall Nelson, Chairman and Chief Executive Officer of Equidyne, stated, ``This is a major milestone in the market development for the INJEX(TM) family of products. It allows us to compete very favorably in the extensive Clinical market where a growing number of states require the use of expensive, so called, `safety needles' as an alternative to the standard needle. It also opens up a tremendous number of markets around the world that previously were not available to our standard INJEX(TM)30 System. For example, a significantly high percentage of the low molecular weight heparin market involves doses of .4ml or greater. Because we planned for this approval, we will have the INJEX(TM)50 System in production and on the market by August of this year. This timing will provide a significant boost to our sales in the second year of our entry into the marketplace.''
Nice buy chance yesterday in the mid 2's....great going and this will propel us into NEW MARKETS and hospitals
chris |
