WIXOM, Mich., May 24 /PRNewswire-FirstCall/ -- Rockwell Medical Technologies, Inc. , a leading, innovative manufacturer and developer of concentrates and specialty pharmaceuticals focused on the end-stage-renal-disease market (ESRD), reported today that it has signed an exclusive distribution agreement with a specialty pharma distributor to supply its dialysis concentrate products in Europe.
The Agreement calls for the purchase of Rockwell’s Dri-Sate Dry Acid Concentrate Mixing System for distribution into Europe. Under the terms of the Agreement, minimum volumes of Rockwell’s Dri-Sate Dry Acid Concentrate are required to be purchased. The product will be marketed under the Rockwell label following European CE regulatory approval. The European dialysis market is the third largest following the U.S. and Japan.
Mr. Robert L. Chioini, Chairman, CEO and President of Rockwell stated, “We are pleased to have secured this distribution channel into Europe. Our distributor is active in the European dialysis market and we anticipate our Dri-Sate Dry Acid Concentrate Mixing System will sell very well. Much like our Canadian distribution agreement we announced earlier this year, this agreement enables Rockwell to enter the European dialysis market without having to make capital investments for production and distribution facilities in the region.”
Rockwell Medical Technologies, Inc. is a leading, innovative manufacturer and developer of concentrates and specialty pharmaceuticals focused on improving the quality of care for dialysis patients. Dialysis is a process that duplicates kidney function for those patients whose kidneys have failed to work properly and who suffer from chronic kidney failure, a condition also known as end-stage-renal-disease (ESRD). There are an estimated 350,000 dialysis patients in the United States and the incidence of ESRD has increased approximately 6% on average each year over the last decade. Rockwell manufactures, markets and delivers high-quality dialysis solutions, powders and ancillary products that are used to cleanse the ESRD patient’s blood and replace nutrients in the bloodstream. Rockwell’s proprietary formulations for iron-delivery and vitamin/carnitine-delivery, utilizing its dialysate as the delivery mechanism, are designed to provide replacement therapy with unprecedented patient safety and efficacy while eliminating nursing time and supply cost. Rockwell offers the proprietary Dri-Sate Dry Acid Concentrate Mixing System, RenalPure(R) Liquid Acid Concentrate, SteriLyte(R) Liquid Bicarbonate Concentrate, RenalPure(R) Powder Bicarbonate Concentrate, Blood Tubing Sets, Fistula Needles and a wide range of ancillary dialysis items. Visit Rockwell’s website at http://www.rockwellmed.com for more information.
Certain statements in this press release with respect to the estimated size of the European dialysis market and prospective sales constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect management’s expectations and are based upon currently available information. Management of Rockwell believes the expectations reflected in the forward-looking statements made in this press release are based upon reasonable assumptions. However, certain factors could occur that might cause actual results to vary. These include, but are not limited to, delay or failure to receive regulatory approval in Canada, general economic conditions, economic conditions in the hemodialysis industry, competitive factors and other factors discussed in Rockwell’s reports filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties.
Rockwell Medical Technologies, Inc.
CONTACT: Ron Aubrey, Investor Relations, 1-866-565-6139, or Thomas Klema,+1-248-960-9009, both for Rockwell Medical Technologies, Inc.
Web site: http://www.rockwellmed.com/
