China's Largest Distributor of Medical and Dental Products to Market Milestone's Award-Winning Computer-Controlled Local Anesthetic Delivery System to China's Dental Industry
LIVINGSTON, N.J., April 29 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. , the recognized leader in advanced injection technologies, today announced that it has granted China National Medicines Corporation, d/b/a Sinopharm, exclusive distribution and marketing rights of the award-winning STA Single Tooth Anesthesia System(TM) (STA System) in China. Traded on the Shanghai Stock Exchange (SHA:600511), Sinopharm is China's largest domestic manufacturer, distributor and marketer of pharmaceuticals and importer of medical devices, and the country's largest domestic distributor of dental anesthetic carpules to the Chinese dental industry.
The deal paves the way for Milestone's Computer-Controlled Local Anesthetic Delivery (C-CLAD) technologies to reach progressive oral health practitioners in China through Sinopharm's extensive medical and dental distribution network. According to Global Industry Analysts, Inc., one of the world's largest market research publishers, "Rapid growth in living standards has induced greater realization about the quality of medical and dental services in countries such as India and China. Consequently, these countries are exhibiting soaring demand for modern and sophisticated technology and equipment in the dental market." Market research firm Freedonia also notes that "demand for dental products in China is expected to climb 11% per year through 2012 to 21.5 billion yuan ($3.15 billion U.S. dollars), driven by the increasing number of Chinese who are using dental products to improve their appearance and the growing popularity of professional dental care."
Leonard Osser, Chairman and interim CEO of Milestone, stated, "An important factor of Milestone's long term success is teaming with the right distribution partners who are capable of promoting rapid market penetration for our advanced injection technologies in key geographic regions around the world. Considering that China represents one of the most significant growth markets for the STA System, our efforts to identify an ideal partner in that global region has been especially pronounced. As a result, we are very proud to team with Sinopharm, one of China's noted healthcare leaders, as our exclusive supplier of the STA System and related ancillary handpieces in China and look forward to working closely with them to help establish our technologies as the gold standard for dental injections in the country."
The state-of-the-art STA System is a computer-controlled, pressure-sensitive injection system, which provides dentists with audible and visual signals as to in-tissue pressure and needle location. Milestone's latest achievement in C-CLAD makes the injection process more comfortable for both dentists and patients and allows for the painless delivery of local anesthetic. Marketed worldwide by Milestone's growing global distributor network to dental practitioners for the painless administration of all dental injections, the STA System is uniquely capable of predictably and more comfortably administering "Single Tooth Anesthesia" into the Periodontal Intraligamentary (PDL) space, something never before possible using conventional techniques.
Established in 1999 by China National Pharmaceutical Group Corporation, China's largest pharmaceutical group, China National Medicine Corporation Ltd.'s (Sinopharm) core businesses are investment, import and export, and domestic distribution in pharmaceutical and relevant sections, including pharmaceutical R&D, manufacturing, distribution, consultation, bonded warehousing and other value-added services such as overseas pharmaceutical projects and domestic wholesale of pharmaceuticals, medical instruments and equipments. Sinopharm keeps the country's medicine reserve and plays an important role in disaster and emergency relief and disease and plague prevention.
About Milestone Scientific Inc.
Headquartered in Livingston, New Jersey, Milestone Scientific is engaged in pioneering proprietary, highly innovative technological solutions for the medical and dental markets. Central to the Company's IP platform and product development strategy is its patented CompuFlo(R) technology for the improved and painless delivery of local anesthetic. Specifically, CompuFlo is a computer-controlled, pressure sensitive infusion, perfusion, suffusion and aspiration technology, which provides real-time readouts of pressures, fluid densities and flow rates, enabling the advanced delivery and removal of a wide array of fluids. The STA Single Tooth Anesthesia System(TM), a computer-controlled local anesthesia delivery system, uses this technology to provide dentists with audible and visual signals as to in-tissue pressure. Milestone's existing painless injection systems are currently sold in 25 countries. For more information on these and other innovative Milestone products, please visit the Company's web site found at www.milesci.com and www.STAis4U.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing and financial impact of the Milestone's ability to implement its business plan, expected revenues and future success. These statements involve a number of risks and uncertainties and are based on assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Milestone's control. Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, failure to achieve expected revenue growth, changes in our operating expenses, adverse patent rulings, FDA or legal developments, competitive pressures, changes in customer and market requirements and standards, and the risk factors detailed from time to time in Milestone's periodic filings with the Securities and Exchange Commission, including without limitation, Milestone's Annual Report for the year ended December 31, 2008. The forward looking-statements in this press release are based upon management's reasonable belief as of the date hereof. Milestone undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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