Senetek PLC Announces Realignment of its Marketing and Distribution Strategy For Key Asian Territories
NAPA, Calif., June 25 /PRNewswire-FirstCall/ -- Senetek PLC (Nasdaq: SNTK - News), senetekplc.com , a biopharmaceutical company that develops products in the skincare/dermatological and sexual dysfunction markets, today announced that under the terms of its interim agreement with OMP, Inc. the parties have ended negotiations for a long-term license between them and Rohto Pharmaceutical Company Ltd. for the latter to market products containing Senetek's patented Kinetin ingredient in the drug store channel of distribution and certain other retail channels in Japan.
Senetek is in licensing negotiations with a large Japanese cosmetics company for it to distribute products containing Kinetin under at least three well-known cosmetics trademarks initially in the prestige market channel and certain other non-mass market channels in Japan, as well as in the prestige market channel in other important Asian countries where it has a presence. Senetek believes that its royalty and license fee income for 2002 may be lower than previously expected due to the new timelines resulting from this realignment of Senetek's marketing and distribution strategy for the skincare market in Asia.
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Senetek's patented skincare ingredient Kinetin (N6-furfuryladenine) is an essential plant growth factor that retards senescence of plants and delays age-related changes in cultured human skin cells. Kinetin products have been successfully tested at the Department of Dermatology, University of California, Irvine, showing good-to-excellent results in reversing the signs of photodamaged skin, and promoting the appearance of healthy looking skin. In clinical trials, Kinetin products demonstrated improvement in the reduction of fine lines and wrinkles and mottled hyperpigmentation without the irritation and photosensitivity associated with the use of retinoids and alpha-hydroxy acids.
Safe Harbor Statement
This news release may contain statements that may be considered "forward looking statements" under the Federal securities laws, including statements concerning the revenue and licensing income we may receive in the future under licenses of our products, and the additional licensing agreements we may enter into during 2002. No forward-looking statement we make is a guarantee of future performance or events. Actual results or events may differ materially from those in the forward-looking statements as a result of various factors, including the risks and uncertainties described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2001 filed with the Securities and Exchange Commission.
SOURCE: Senetek PLC |
