To: SSP who wrote (4852 ) 7/23/1999 11:54:00 AM From: Jeffrey L. Henken Respond to of 150070
Wasatch Announces Significant Progress MIDVALE, Utah--(BUSINESS WIRE)--July 23, 1999--Wasatch Pharmaceutical Inc. (OTC BB:WASP) is pleased to announce that significant progress has been made in the last 90 days. Wasatch has spent 15 years conducting world class research in the field of Dermatology. We are ready to take our research to the FDA where we expect to gain fast track approval for a number of indications. We anticipate approval within the next 12 to 18 months . Our products have much broader efficacy with minimal deleterious side effects in comparison to those products currently being marketed. Our products are currently being manufactured by Gordon Laboratories located in Carson, Calif. These products are a combination of prescription drugs and other often used medications. In fact, all these medications have previously received FDA approval but never in the proper combinations that we feel will revolutionize the field of Dermatology. On July 27, 1999, we will be meeting with Dr. Vancampen of the Vancampen Group in order to submit the proper documentation to receive FDA approval to market OTC products for the following indications : 1. Cystic Acne along with lesser grades of acne. With virtually no side effects and a success rate of over 90% in clinical trials, this product will gain broad acceptance in the treatment and prevention of all grades of acne. 2. Folliculitus, a condition involving ingrown hairs along with infection and inflammation. It is especially prevalent in adult males after shaving. 3. Contact Dermatitis, a condition exhibited by skin ulceration, inflammation, rash and itching. 4. Seborrhea, a condition usually associated with the scalp with severe flaking of the skin, sores, rash and itching. 5. Athletes Foot. Wasatch will provide a new approach for the treatment of athletes foot that will result in a permanent eradication of the condition unless exposed to new contaminates resulting from open sores not associated with athletes foot. 6. Cold Sores, as most often exhibited on or in the mouth. The response time in clearing these sores is 2-4 days. 7. Skin Rejuvenation. This OTC product now available only in Wasatch clinics, will provide actual rejuvenation of the skin cells, resulting in beautiful, luxurious skin. In addition to the foregoing OTC products, we have been advised by FDA regulators that we may also make application for use of these products in the burgeoning field of Veterinary medicine. Wasatch has already been approached by major skin care entities for licensing both in the U.S. and foreign markets. These options will be pursued once OTC approvals are received. Further, Wasatch is pleased to announce the former executive at Johnson and Johnson with over 18 years of experience in the skin care division will be announced to the public within the next 90 days . As we await FDA approval, Wasatch Pharmaceuticals expects to begin its expansion phase. The two dermatology clinics which are currently open are expected to be profitable by November of 1999 . This is truly an exciting time for Wasatch Pharmaceuticals. We feel we have skin disorder products that will simply dominate market share. 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 finance.yahoo.com I'm trying one more time to get this one on the list....then I'll give up!!! Thanks, Jeff