To: SSP who wrote (4459 ) 7/20/1999 6:48:00 PM From: Jeffrey L. Henken Read Replies (1) | Respond to of 150070
Please read the following press release carefully because I strongly believe that the appropriate time is drawing ever nearer: I think that WASP is oversold and represents an aggressive buying opportunity at these levels. Wasatch Pharmaceutical Inc. Makes Announcement MIDVALE, Utah--(BUSINESS WIRE)--May 18, 1999--Wasatch Pharmaceutical Inc. (OTC BB:WASP - news), in response to investor/stockholder inquiries concerning use of present funding, we are releasing the following information which is contingent on the flow of funds to insure these projected goals . MANAGEMENT: Wasatch has identified an individual with 20 years of strong marketing responsibilities at Johnson and Johnson. He is presently acting as a private consultant to prominent pharmaceutical companies in the U.S . He is highly respected in the skin care industry and is on a first name basis with many of the distinguished dermatologists in the United States and other parts of the world. He has strong management credentials and an outstanding record in taking new products to market. At the appropriate time his name will be released to the public . A second individual who is presently with a large pharmaceutical entity has accepted the offer to oversee needed FDA over-the-counter approvals on five products and to insure their successful entry into the market. He has over 10 years experience in his present position as a marketing director. During his tenure, he has taken his region from $95 million to $350 million in sales in a very competitive market . His identity will be released at the appropriate time to the public . RESEARCH: Use of funds in research will be targeted in the following areas -- two biochemists, who have accepted invitations to join Wasatch, will be identified in the near future. These two scientists will take our research to a new level of success in areas of investigation that will produce a new generation of products for Wasatch. Theories that have produced our existing products in skin care will lead us into other areas of research outside of dermatology. HEALTH CARE INSURANCE PROVIDERS AND HMOS: Use of funds in these areas will concentrate on contract negotiations which will insure the success of each newly established clinic under the Wasatch umbrella. Dermatology is the third highest expenditure for most health care providers. Wasatch has demonstrated that its existing therapies can produce hundreds of millions in savings to these insurance providers and at the same time insure the eradication of most skin disorders so prevalent among children and adults. LICENSING AND JOINT VENTURES: Wasatch has received aggressive inquiries from major pharmaceutical and cosmetic firms in the U.S. and foreign countries. Use of funds in these areas will be investigated carefully to insure the success and safety in forming such relationships. The potential for income in these areas is obviously substantial. PROJECTED INCOME: Many inquiries have come regarding projected income. This is a dangerous area in which to make any forecast. There are too many variables that can disrupt projections, which makes for unhappy shareholders. Presently, any projections made by Wasatch are contingent upon the continuation of funding as announced in previous news releases. Assuming these funds continue to support our present activities, Wasatch expects to announce a profit for 1999, with no debt, significant tax write-offs from deficit spending, and an increase in profits within the next 4-5 years into the hundreds of millions. Expectations on high profits are based on gross margins which are traditional with most medical products, especially with skin care in a medical environment. NOTE: Any statements released by Wasatch Pharmaceutical Inc. that are not strictly historical are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the company's business prospects and performance. These include economic, competitive, governmental, technological and other factors discussed in the company's filings with the Securities and Exchange Commission. Contact: Wasatch Pharmaceutical Inc., Midvale Gary Heesch, 801/272-1709