La Jolla Diagnostics Acquires Marketing Rights for FDA Approved Pregnancy Test
La Jolla, Calif.--(BW HealthWire)--Jan. 6, 1999--La Jolla Diagnostics Inc. (OTC BB:LAJD), announced today the acquisition, through its subsidiary DiagnosTech Inc., of domestic and international marketing rights for an FDA approved rapid pregnancy test. This test is similar to several other test now available, in that pregnancy can be determined with high reliability by the visual inspection of a test strip.
The test will be marketed under the DiagnosTech name and other brand names both domestically and internationally.
"We are very enthusiastic about adding this product to our catalog," said Bruce Whitfield, vice president of marketing for DiagnosTech. "We see an increase in demand for this test throughout the world. It is especially needed in third world countries. Many of our international distributors who initially came on board to represent our proprietary TB and HIV tests have asked that we make this type of test available."
The world market for rapid pregnancy test for home use is approximately $300 million annually. Of that, nearly one third, or about $94 million, is sold in the United States.
Don Brucker, president and chief executive officer of parent company La Jolla Diagnostics said, "In addition to the international diagnostic markets we have been concentrating on, this is the first of many diagnostic products that we expect to make available in the U.S. The average domestic retail price for a home pregnancy testing kit is over $8.00. We expect to be able to offer our kit at a substantially lower price and have specific plans to place the product within easy reach of price-conscious consumers."
La Jolla diagnostics is an emerging company engaged in the development and marketing of state-of-the-art diagnostic tests (including a proprietary test for active tuberculosis), health care products and nutraceuticals. The healthcare and nutraceutical products, including a treatment for migraine headaches, are formulated using a patented technology.
CONTACT:
La Jolla Diagnostics Inc.
800/454-6790, 619/454-7851 fax
lajd.com
lajd96@aol.com
KEYWORD: CALIFORNIA
BW0060 JAN 06,1999
5:49 PACIFIC
08:49 EASTERN
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