American Bio Medica Signs Exclusive Agreement With SIMYACI to Distribute American Bio Medica's Substance Abuse Diagnostic Kits in Turkey
HUDSON, N.Y.--(BUSINESS WIRE)--March 29, 1999--American Bio Medica Corp. (Nasdaq:ABMC - news) Monday announced that it has signed an exclusive agreement with SIMYACI in Istanbul, Turkey to distribute American Bio Medica's patented Rapid Drug Screen(TM) kits for random on-site testing to that country's corrections system.
''This agreement represents another significant growth opportunity for American Bio Medica, and we are delighted to be associated with a firm the caliber of SIMYACI. Not only does this agreement strengthen ABMC's overall presence in the Turkish substance abuse testing marketplace but it gives us access to the profitable corrections segment of the market,'' said ABMC president and chief executive officer Stan
Cipkowski.
Commenting on Turkey's strict laws for the sale and use of medical products, Cipkowski continued: ''In Turkey importers of drugs and medical products cannot sell directly to hospitals, clinics, drug stores or doctors. Their products must be sold through a depot company like SIMYACI, which is licensed by the Minister of Health to market directly to the medical profession.
''Consequently, health care providers are the only authorized source of medical products for private individuals. SIMYACI will be an invaluable resource for guiding ABMC through their country's complicated import/sales laws for medical products.''
''Initially, our target customers for ABMC's five-panel Rapid Drug Screen for cocaine, opiates, methamphetamines, PCP and amphetamines will be the Bureau of Narcotics and Minister of Justice. These two government agencies have oversight responsibilities for Turkey's corrections system,'' said SIMYACI founder and managing director Mehmet L. Gurses.
Noting that it normally takes 17 to 45 days for the corrections system to receive the results on prisoner substance tests, Gurses continued: ''When a person is taken into custody in Turkey, he or she is sent to a laboratory for substance testing as part of the normal booking process. Our marketing effort will emphasize how the convenience, speed, accuracy and security of ABMC's diagnostic kits dramatically
accelerates and protects the integrity of the entire substance evaluation process.''
Gurses explained that SIMYACI will begin by marketing the drug screening kits in Istanbul and eventually contact other narcotics bureaus throughout Turkey. ''Because of the unique characteristics of this product we will mount a very special campaign to communicate the many advantages of ABMC's test kits. Our message will emphasize that ABMC's drug test cards provide positive and negative results for
each substance being screened.
''We also will stress that test administrators do not need to add reagents, use a pipette to transfer the urine sample, or mix, tilt or stir the mixture, which is necessary with the majority of drug tests currently available. Extensive sampling and demonstrations of the product, as well as an ongoing instructional program, will form the basis of our marketing program,'' Gurses added.
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The company fundamentals I like....the product has it's controversy
chris |
