Senetek PLC Announces Invicorp(TM) Marketing and Distribution Agreement With Douglas Pharmaceuticals
Tuesday November 12, 11:30 am ET
NAPA, Calif., Nov. 12 /PRNewswire-FirstCall/ -- Senetek PLC (Nasdaq: SNTK - News), ( www.senetekplc.com ), a biopharmaceutical company focused on developing, licensing and co-marketing products in the key skincare/dermatologicals and sexual dysfunction categories globally, announced today signing a marketing and distribution agreement for Invicorp(TM), their premier erectile dysfunction product, for New Zealand with Douglas Pharmaceuticals. The agreement calls for Douglas to assume full marketing responsibility for Invicorp(TM) in New Zealand in exchange for revenue sharing. Douglas will receive rights of first offer for future Senetek products in development, not limited to sexual dysfunction. In addition, Douglas will provide assistance for regulatory filings in Australia as well as marketing support for launching in other countries. The New Zealand launch is scheduled for late first quarter or early second quarter 2003.
Douglas Pharmaceuticals is the only New Zealand owned pharmaceutical manufacturing company and one of the dominant players in the New Zealand pharmaceutical industry. The company enjoys marketing alliances or distribution agreements with a number of multinational pharmaceutical companies. Up until the acquisition of Warner Lambert by Pfizer, Douglas marketed Viagra in New Zealand and had the highest Viagra market penetration and sales per capita worldwide.
Frank J. Massino, Senetek's Chairman and CEO, stated, "This marketing and distribution agreement marks a significant milestone achievement for Senetek. We are most proud to have a partner the caliber of Douglas Pharmaceuticals for Invicorp(TM), one of our lead technologies. Over the past couple of years, we have come to learn a great deal about Douglas and know that they can help establish Invicorp(TM) as a leading erectile dysfunction treatment."
Mike Siermans, Marketing Manager, Douglas Pharmaceuticals, stated, "The Douglas management team is pleased to have the opportunity to market Invicorp(TM), a product that is known to have superior efficacy in the treatment of the moderate to severe ED patient. We believe that our unprecedented success in the launch of Viagra in this therapeutic category will provide us the know-how to maximize Invicorp(TM) sales."
Douglas Pharmaceuticals is one of the fastest growing pharmaceutical companies in Australasia. Founded in 1967, the company's roots are firmly established in this region. Douglas Pharmaceuticals is ranked 9th by turnover in the New Zealand pharmaceutical business, employing 250 people. Douglas Pharmaceuticals has been recognized as IMS Pharmacy supplier of the year for both ethical and OTC medicines from 1995 to 2001, as voted by Pharmacy in New Zealand and Unichem Pharmacy. Douglas has also been recognized as Ethical Pharmaceutical supplier of the year in 2000, and Retail Pharmacy and Ethical Pharmaceutical supplier of the year in 2001.
Senetek PLC is a biopharmaceutical company focused on developing, licensing and co-marketing products in key skin care/dermatologicals and sexual dysfunction categories worldwide. Its patented Kinetin ingredient is currently licensed to some nine other companies with leading positions in their fields including Revlon, The Body Shop and ICN Pharmaceuticals.
Visit Senetek PLC's web site: senetekplc.com.
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 the Company may receive in the future under licenses of the Company's products, and the additional licensing agreements the Company may enter into during 2002. No forward-looking statement the Company makes 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 the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001 and Quarterly Report on Form 10-Q for the three months ended June 30, 2002, filed with the Securities and Exchange Commission.
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Source: Senetek PLC |
