WORCESTER, Mass., Sept. 7 /PRNewswire/ -- Generex Biotechnology Corporation (Nasdaq: GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced that it has entered into a long-term marketing and distribution agreement with Merck, S.A. de C.V. in Mexico for the distribution of one of the Company’s proprietary over-the-counter products, Glucose RapidSpray brand formulated glucose spray product. Merck will market and distribute the product in Mexico as Diabion® GlucoShot®.
Merck is a global pharmaceutical and chemical company with total revenues of EUR 7.7 billion in 2009, a history that began in 1668, and a future shaped by approximately 40,000 (including Merck Millipore) employees in 64 countries. Its success is characterized by innovations from entrepreneurial employees. In Mexico, Merck was founded in 1930 as one of the first pharmaceutical producers. Today, with 1,035 employees, Merck, S.A. de C.V. manufactures and sells a great variety of products for the treatment of pain, diabetes, thyroid problems, colds, growth hormone, multiple sclerosis and cancer, among other illnesses. In its chemical area, Merck has specialty pigments and active ingredients for the cosmetics industry.
Glucose RapidSpray (www.GlucoseRapidSpray.com) is a proprietary, innovative alternative for people who require or want additional glucose. Glucose RapidSpray delivers a fat-free, low-calorie glucose formulation that was developed using the Company’s proprietary buccal drug delivery technologies. Glucose RapidSpray delivers glucose directly into the mouth where it is absorbed. Glucose RapidSpray is simple to carry and use with no large tablets to chew or messy gels to swallow.
Presently, Glucose RapidSpray is available in retail pharmacies across Canada, the United States and in independent stores and pharmacies in the Middle East. The processes for registering the product for retail marketing in other countries are underway.
“We are so pleased to enter the expansive Mexican marketplace through this marketing agreement with Merck in Mexico,” said Bill Abajian, Sr. Executive Advisor to Generex, Global Licensing and Business Development. “We believe that Glucose RapidSpray will become a staple within consumer households as more people become familiar with the benefits of the product. We expect that with the marketing expertise that Merck Serono provides penetration within the Mexican marketplace will open up additional markets for the company’s product in Latin and South America as well as the other global markets within which a foothold has already been made.”
“We welcome Generex, to proudly contribute to the growth of our diabetes franchise with a world-class technology for our Consumer Health Division with a comprehensive product offering and innovative power,” said Dr. Arturro Torres y Gutierrez Rubio, Medical Director for Merck in Mexico. “We will now move quickly to bring together the expertise and complementary capabilities of both Merck and Generex to capture the significant opportunities in the high-growth of the market.”
About Generex Biotechnology Corporation
Generex is engaged in the research, development and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company’s proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company’s proprietary RapidMist device. The Company’s flagship product, buccal insulin (Generex Oral-lyn), which has been approved in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutics for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
About Merck in Mexico
Merck Mexico was founded in 1930 as one of the first pharmaceutical producers in Mexico. Today, with close to 1,035 employees, Merck, S.A. de C.V. manufactures and sells a great variety of products for the treatment pain, diabetes, thyroid problems, colds, growth hormone, multiple sclerosis and cancer, among other diseases. In its chemical area, Merck has specialty pigments and active ingredients for the cosmetics industry.
About the Merck Group
Merck is a global pharmaceutical and chemical company with total revenues of EUR 7.7 billion in 2009, a history that began in 1668, and a future shaped by approximately 40,000 (including Merck Millipore) employees in 64 countries. Its success is characterized by innovations from entrepreneurial employees. Merck’s operating activities come under the umbrella of Merck KGaA, in which the Merck family holds an approximately 70% interest and free shareholders own the remaining approximately 30%. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since.
Safe Harbor Statement
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as “expects,” “plans,” “intends,” “believes,” “will,” “estimates,” “forecasts,” “projects,” or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex cannot be sure when or if it will be permitted by regulatory agencies to undertake additional clinical trials or to commence any particular phase of clinical trials. Because of this, statements regarding the expected timing of clinical trials cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any “phase” of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.
SOURCE Generex Biotechnology Corporation
