Shares have been rising lately. Current news:
quotes.freerealtime.com
Matrixx Initiatives, Inc. Begins Nationwide Shipment of New Zicam(R) Products Company Launches Three Unique Oral Delivery Forms, Steps Up R&D Program
PHOENIX, Sep 4, 2003 /PRNewswire-FirstCall via COMTEX/ -- Matrixx Initiatives,
Inc. (Nasdaq: MTXX), developer and distributor of the expanded line of Zicam(R)
products, has commenced nationwide shipment to retail customers of three unique
new oral delivery forms of the Zicam Cold Remedy product line. The new products
are positioned to build on the successful Zicam franchise, which includes the
popular Zicam Cold Remedy nasal gel pump and swab products.
The new products, Zicam Cold Remedy Oral Mist(TM), Zicam Cold Remedy
Chewables(TM), and Zicam Cold Remedy RapidMelts(TM), have been specifically
developed to appeal to consumers who prefer oral delivery forms over nasal
delivery forms for treatment. The mint flavored Oral Mist is packaged in a
convenient one-ounce pump spray container. Boxes of the Chewables contain 25
individually wrapped, strawberry flavored squares. Zicam Cold Remedy RapidMelts
are sold in packages of 25 quick dissolve, cherry flavored tablets. All new
products have pending patent applications and contain zincum gluconicum, which
is the active ingredient in Zicam Cold Remedy Nasal Gel.
Recent syndicated sales data indicated that Zicam is one of the fastest growing
brands in the cold/allergy/sinus category. "The response from our retail
customers to the new Zicam products has been exceptionally positive," said Carl
J. Johnson, president and chief executive officer of Matrixx Initiatives, Inc.
"Internal research has indicated that many consumers prefer a zincum gluconicum
cold remedy such as Zicam in an oral formula that is less likely to cause
stomach upset than the common lozenge forms. We expect that these new offerings
will add significant brand equity to the Zicam franchise while offering
consumers a full variety of delivery form choices for Zicam Cold Remedy to
shorten the duration and severity of their colds."
Strong sell-in of the new products, in addition to continued demand for the
existing Zicam product line, has contributed to company projections that,
compared to last year, the number of Zicam products in distribution will
increase 74% for the upcoming cold season among Matrixx's top 15 customers,
which represent more than 80% of the company's year-to-date unit sales. The
increases in distribution among these customers mean that, on a weighted average
basis, 6.1 Zicam products are expected to be in distribution in the company's
top 15 customers, versus 3.5 products last year.
The new products represent the latest results of Matrixx's accelerated research
and development program, which has produced eight new products in less than 15
months. To further expand research and development initiatives, the company
recently promoted Timothy L. Clarot to director of research and development. Mr.
Clarot previously supervised new product development as a component of his
duties as director of operations. As a result of the company's intensified R&D
program, Mr. Clarot now will focus exclusively on new product development.
Operations will now be under the direction of Michael A. Shaw, director of
operations, who joined Matrixx as of August 1, 2003. Mr. Shaw has nearly 10
years experience in manufacturing and site management, over-the-counter drug
production, supply chain management, quality assurance and compliance oversight.
Formerly Director of Manufacturing Operations for Zila Pharmaceuticals, Inc., he
has also held key project management and manufacturing positions at Schein
Pharmaceutical, Barr Laboratories and SmithKline Beecham. Mr. Shaw holds
Bachelor of Science degrees in civil engineering and architectural engineering
from Drexel University.
Matrixx will support promotion of Zicam products during the 2003-2004 cough and
cold season with a national TV and print advertising campaign slated to begin in
October. Additional promotion to build brand presence, increase consumer
awareness and grow market share will employ other promotional strategies,
including high-value, in-pack coupons, freestanding inserts, and nationwide
public relations.
Stability studies for all new products were concluded in early August. The new
products are expected to be on many retailers' shelves by early September.
About Matrixx Initiatives, Inc.
Matrixx Initiatives, Inc. is engaged in the development, manufacture and
marketing of innovative drug delivery systems for over-the-counter OTC
pharmaceuticals. Zicam, LLC, its wholly-owned subsidiary, produces, markets and
sells Zicam(R) Cold Remedy nasal gel, a patented, homeopathic remedy that has
been clinically proven to significantly reduce the duration and severity of the
common cold. In studies published in the October 2000 issue of ENT - Ear, Nose
and Throat Journal, and separately in the January 2003 issue of QJM: An
International Journal of Medicine, the Zicam Cold Remedy nasal gel product was
shown to reduce significantly the duration of the common cold. The Company also
manufactures and markets a full line of Zicam brand pharmaceuticals, including
Zicam Cold Remedy Swabs; Zicam Kids Size Cold Remedy Swabs; Zicam Cold Remedy
Oral Mist, Zicam Cold Remedy Chewables, Zicam Cold Remedy RapidMelts, Zicam
Extreme Congestion Relief; Zicam Sinus Relief; and Zicam Nasal Moisturizer. For
more information regarding Matrixx products, go to www.zicam.com . To find out
more about Matrixx Initiatives, Inc. (Nasdaq: MTXX), visit our website at
www.matrixxinc.com . For additional information, contact William Hemelt,
executive vice president and chief financial officer, 602-387-5353,
whemelt@matrixxinc.com , or Lynn Romero, investor relations, at 602-387-5353,
lromero@matrixxinc.com . Matrixx is located at 2375 East Camelback Road, Suite
500, Phoenix, Arizona 85016. |
