Hi Robin,
Saw Biotech's advertisement/news release in the Financial Post today.
FYI, here is the e-mail version:
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: BIOTECH HOLDINGS LTD.
ASE SYMBOL: BIO
JANUARY 28, 1997
Biotech Announces Start of Diabetic Drug Sales in China
VANCOUVER, BRITISH COLUMBIA--Further to the $690,000 order for
DIAB II received in September 1996, Biotech Holdings Ltd. is
pleased to announce that the first wholesale deliveries of the
drug have been made and that additional retail sales have begun in
China. Preliminary data indicate that sales to date for January,
1997 are 20 percent ahead of projection.
DIAB II is the first insulin-sensitizing drug offered for sale in
China, one of the world's largest markets for diabetic drugs.
There are estimated to be over 50 million people in China
suffering from Type II (adult-onset) Diabetes or from Impaired
Glucose Tolerance, a condition that frequently precedes
adult-onset diabetes. It is estimated that 54 percent of this
population currently utilizes some form of prescribed medication.
Biotech's goal is to achieve a 2.5 percent market penetration by
the end of 1998.
The Company is currently carrying out supplemental clinical trials
of DIAB II in the Caribbean and is examining licensing the drug to
a senior pharmaceutical company interested in seeking regulatory
approvals for DIAB II in the United States and Canada.
Anyway, this might finally spark more interest in BIO, now that the first wholesale deliveries have been made.
Waiting patiently!
Darrin |
