To: Lucre who wrote (102081 ) 10/6/1999 1:27:00 PM From: Lucre Read Replies (1) | Respond to of 119973
Medi-Ject Corporation Announces E-Commerce Distribution Agreement Withdrugstore.com(TM) New, Low-Cost Needle-Free Insulin Injector Offered Through Leading E-Commerce Drugstore MINNEAPOLIS, Oct. 6 /PRNewswire/ -- Medi-Ject Corporation (Nasdaq: MEDJ) today announced that it has signed a distribution agreement with drugstore.com(TM) (Nasdaq: DSCM) ( www.drugstore.com ), a leading online source for health, beauty, wellness, personal care and pharmacy products, to market its new VISION needle-free insulin injector. The VISION system, to be launched in the U.S. on October 25, is Medi-Ject's next generation of needle-free injection systems. The VISION injector will be offered at a lower price than previous systems, yet is smaller, quieter and easier to use, with no need to adjust pressure settings and a new, easy-to-adjust dosage feature. "This announcement is very significant to Medi-Ject for two reasons," commented Dr. Franklin Pass, Chairman and CEO of Medi-Ject. "First, the launch of our VISION injector represents an important step forward in affordability and ease of use. We believe the new system will be a major positive for our current customers and expand our products' appeal to new patients as well. "At the same time, our agreement with drugstore.com, a leading online pharmacy in the U.S., represents a giant leap in our presence on the Internet. This opportunity builds upon our current E-commerce sales and we are proud to be a part of drugstore.com's plans to soon expand their diabetes merchandising." Pass concluded, "We are now particularly well-positioned to capitalize on the tremendous opportunities of the Internet. Unlike competing systems with needles that require a prescription, our insulin delivery system has been FDA-approved for sale over-the-counter ("OTC"). This is a distinct advantage in today's Internet world and, increasingly, we believe it will make a difference in our product sales." Both Medi-Ject and drugstore.com plan to offer relevant educational materials explaining the advantages of needle-free insulin delivery. The two companies believe that a relatively small part of the potential market for Medi-Ject's VISION, including doctors, is fully aware of the new advances in needle-free technology or the recent reduction in costs. Any statements released by Medi-Ject that are forward looking, including statements relating to future product development, product sales, development and licensing agreements, and research activities, are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward looking statements involve risks and uncertainties which may affect the Company's business and prospects, including changes in economic and market conditions, healthcare legislation, progress in Medi-Ject's alliances with pharmaceutical companies, the development of competing drug delivery systems, management of growth and other factors discussed in the Company's filings with the Securities and Exchange Commission. Medi-Ject Corporation is the world's leading developer and marketer of needle-free drug delivery systems. The Company manufactures hand-held injectors that deposit pharmaceuticals, including insulin and growth hormone, under the skin without a needle. Presently, these needle-free injection systems are distributed in over twenty countries. Headquartered in Minneapolis, the Company's common stock is traded on the Nasdaq Small Cap Market under the symbol MEDJ. Company information can be found on the Internet under Medi-Ject's site on the World Wide Web at mediject.com . For more information on Medi-Ject Corporation via facsimile at no additional cost, simply dial 1-800-PRO-INFO and enter company's ticker symbol MEDJ. SOURCE Medi-Ject Corporation CO: Medi-Ject Corporation; drugstore.com ST: Minnesota IN: MTC SU: LIC 10/06/1999 12:56 EDT prnewswire.com