*
LAKE HARMONY, PA, Jun. 25, 2003 (MARKET WIRE via COMTEX) -- EarlyAlerts.com Starts Stellar International Inc. (OTC BB: SLRXF) with a Strong Buy Rating and a price target of $2.60. Carl Parsons announces that Stellar, a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today reported signing an Agreement with CMI Canada Medical Inc., for the distribution of NeoVisc(R) and Uracyst(R)-S in the Middle East.
Peter Riehl, Stellar's President and Chief Executive Officer, stated, "There is excellent commercial opportunity for NeoVisc(R) and Uracyst(R)-S in these health care markets. This Agreement covers a population of over 75 million people with a demonstrated demand for these products. We feel that CMI Canada Medical Inc. has the distribution network that will allow NeoVisc(R) and Uracyst(R)-S to successfully capture a significant market share. This contract also reflects our ongoing strategy to license our proprietary products into the global market place."
CMI Canada Medical Inc is presently undertaking the process of acquiring the licenses for exporting NeoVisc to the Gulf area.
Stellar International has developed and is marketing three products in Canada based on its core polysaccharide technology: NeoVisc(R), for the treatment of osteoarthritis, Uracyst(R)-S and Uracyst(R) Test Kit, Stellar's patented technology for the diagnosis and treatment of Interstitial Cystitis (IC), an inflammatory disease of the urinary bladder wall. The Uracyst(R) treatment for IC is a cost-effective product and has demonstrated an excellent symptomatic response.
Other active stocks yesterday were: Palm Inc. (NASDAQ: PALM) up 9% to $17.00 After Hours on 1.3 million shares traded, Dell Computer Corp. (NASDAQ: DELL) down 1% to $31.33 on 14 million shares traded and Cisco Systems Inc. (NASDAQ: CSCO) down 1% to $16.74 on 79 million shares traded.
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. EarlyAlerts accepts no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. EarlyAlerts has been hired by a third-party consultant for the publication and circulation of this report. As always do your own due diligence. Our technical analysis may from time to time cause the target price to fluctuate without notice. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein.
CONTACT: Carl Parsons
EarlyAlerts.com
570-722-4098
Copyright 2003 Market Wire, All rights reserved. |
