LAS VEGAS, Jan. 16, 2007 (PRIME NEWSWIRE) -- Samaritan Pharmaceuticals Inc. (AMEX:LIV - News), a developer of innovative drugs, is pleased to announce that it has signed an exclusive license with Molteni Farmaceutici, Italy in-licensing the marketing and sales rights for six prescription medications: Oramorph(tm), Morphine Sulphate, Methadone, Naloxone Molteni(tm), Naltrexone(tm), and Mepivamol(tm), in Greece and Cyprus.
``Samaritan commends Mr. Eugene Boyle and Dr. Christos Dakas for their resiliency in exacting Samaritan's in-licensing revenue strategy. Samaritan has advanced its first in-licensed drug Amphocil's registration in Greece and expects sales revenue in 2007. Samaritan believes its expertise in registration, marketing and sales and distribution in overlooked territories such as Eastern Europe will allow Samaritan to continually increase its in-licensing portfolio of prescription drugs.'' said Dr. Janet Greeson, CEO of Samaritan.
Samaritan will distribute Molteni products through hospitals. Samaritan plans to submit the products under this agreement to the Greece and Cypress governmental market authorization authorities for Greece and Cypress regulatory approval, as soon as Molteni transfers the stated drugs' regulatory package.
PAIN RELIEF MEDICATIONS
Oramorph(tm) is morphine sulphate in an oral solution and is used for managing moderate to severe chronic pain.
About Morphine Sulphate (Injectable Formulation)
Morphine Sulphate relieves moderate to severe pain by binding to brain receptors. Morphine Sulphate may be used to control the pain following surgery, child birth, and other procedures. It may also be used to treat the pain associated with cancer, heart attacks, sickle cell disease and other medical conditions.
DRUG ADDICTION THERAPY
Methadone is an opiate agonist. Methadone prevents heroin or morphine from interacting with receptors for natural painkillers called endorphins, blocking the effects of the addictive drugs and reducing the physical cravings.
About Naloxone Molteni(tm)
Naloxone Molteni(tm) is an opioid antagonist which reverses the effects of opioid overdose, for example heroin and morphine overdose. Specifically, Naloxone(tm) is used in opioid overdoses for countering life-threatening depression of the central nervous system and respiratory system.
Naltrexone(tm) is an opioid antagonist which is used to help people who have a narcotic or alcohol addiction stay drug free. Naltrexone(tm) is used after the patient has stopped taking drugs or alcohol. It works by blocking the effects of narcotics or by decreasing the craving for alcohol.
About Mepivamol(tm) (Mepivacaine)
Mepivamol(tm) is an effective and reliable local anesthetic of intermediate duration and low systemic toxicity. It is widely used for regional anesthetic procedures such as IVRA, infiltration, epidural blockade, plexus and peripheral nerve blockade.
About Molteni Farmaceutici
Molteni is rich in history with over a century of experience beginning with the opening of its manufacturing facility at the Molteni Pharmacy Laboratory located in the historic center of Florence, Italy. The strategic therapeutic areas on which Molteni makes an effort for trading new alliances are concentrated on Analgesia, Anesthesia and Drug Addition Therapy.
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The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings and Website. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science and technology. However, as with any biopharmaceutical under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that products will prove to be commercially successful. For additional information about the factors that affect the company's business, please read the company's latest Form 10-K/A filed November 2, 2006. The company undertakes no duty to update forward-looking statements.
Samaritan Pharmaceuticals, Inc.
Source: Samaritan Pharmaceuticals, Inc.
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