DOYLESTOWN, Pa., Dec. 3 /PRNewswire-FirstCall/ -- Ted Karkus, Chairman and CEO of The Quigley Corporation, www.quigleyco.com announced today that the Company has completed its evaluation of its opportunities to develop prescription pharmaceutical and OTC products and has concluded that it is in its best interests to focus primarily on the OTC/Personal Care marketplace, which may include but are not limited to its Cold-EEZE(R) and Kids-EEZE(R) brands, as well as other homeopathic, dietary supplement, cosmetic, cosmeceutical, first aid, functional food and beverage products. Mr. Karkus, the Company's Board of Directors, the Company's executive team, and an outside consultant have concluded that the costs and risks associated with continuing to develop a line of prescription pharmaceutical products are not warranted.
However, the Company has identified certain Pharma subsidiary products that it feels may warrant further reasonable investment in order to determine whether they present significant commercial opportunities. The products it will continue to investigate include QR333 (potential topical symptomatic relief of diabetic peripheral neuropathy); QR440 (potential relief of inflammation and joint pain); and QR448 (potential anti-infective against infectious bronchitis in poultry).
About The Quigley Corporation
The Quigley Corporation (http://www.Quigleyco.com) is a diversified natural health medical science company. Its Cold Remedy segment is a leading marketer and manufacturer of the Cold-EEZE(R) family of lozenges and sugar free tablets clinically proven to significantly reduce the severity and duration of the common cold. Cold-EEZE(R) customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies. The Quigley Corporation has several wholly owned subsidiaries including Quigley Manufacturing Inc., which consists of an FDA approved facility to manufacture Cold-EEZE(R) lozenges and fulfill other contract manufacturing opportunities, and Quigley Pharma, Inc., (http://www.QuigleyPharma.com), which conducts research in order to develop and commercialize a pipeline of patented botanical and naturally derived potential prescription drugs.
CONTACT: Ted Karkus, Chairman of the Board, CEO, +1-215-345-0919 ext. 114;
or Carl Hymans, G.S. Schwartz & Co., +1-212-725-4500 ext. 304,
mailto:dwaldman@lhai.comcarlh@schwartz.com
Web site: http://www.quigleyco.com/
