MINNEAPOLIS, Sept. 7 /PRNewswire-FirstCall/ -- GelStat Corporation (BULLETIN BOARD: GSAC) today announced that it has received orders for its first product, "GelStat(TM) Migraine" from D&K Healthcare Resources (D&K) and Rochester Drug Company (RDC).
D&K is one of America's leading regional pharmaceutical distribution companies and the fifth largest drug wholesaler in the country, serving customers in more than 24 states in the Upper Midwest and Southern U.S. RDC is an independently owned drug wholesale cooperative serving approximately 500 pharmacies in New York, New Jersey and Pennsylvania.
"We continue to find that both retailers and wholesalers are very receptive to GelStat Migraine," said Art Pirrone, vice president of domestic sales. "In addition, our recent experience at the Cardinal Health trade show confirms that pharmacists are actively looking for a product they can recommend to their customers with confidence."
"Our immediate goal was to ensure, before the start of our major advertising campaign, that GelStat Migraine would be available to most of the approximately 22,000 major chain pharmacies and 25,000 independent pharmacies in this country," said Richard Ringold, vice president. "We have achieved that goal, and now estimate that over 80% of all pharmacies, as well as many independent food and convenience stores, have access to GelStat Migraine through one of the major drug wholesalers."
GelStat Migraine is now available through ten drug wholesalers, including:
-- Cardinal Health, serving more than 33,000 pharmacy locations. Cardinal
Health employs more than 50,000 people and generates annual revenues of
more than $50 billion.
-- Amerisource Bergen, one of the nation's largest pharmaceutical services
providers with over 14,000 employees and $47 billion in annualized
operating revenue.
-- The F. Dohman Company, a full line pharmaceutical wholesaler serving
1650 independent pharmacies, grocery and chain stores in 23 states.
-- Bellco Drug, a full-service wholesaler that distributes to over 20,000
customers including independent pharmacies and drug stores in New York,
New Jersey and Connecticut.
-- Kinray, the largest privately-held distributor of pharmaceutical,
generic and health & beauty care products in the world with revenues
approaching $3.3 billion for 2004. Over 1,000 employees service more
than 2,000 retail accounts in seven northeast states.
-- Anda, a distribution arm of Andrx Corporation, sells primarily to
independent pharmacies, pharmacy chains, pharmacy buying groups and
physicians' offices. Over 200 in-house sales representatives working
out of two call centers make 80,000 calls per week to 20,000 active
customers.
-- North Carolina Mutual Drug Company, whose focus is on independent drug
stores in Virginia, North Carolina and South Carolina.
-- DIK Drug Company, a regional wholesaler of pharmaceutical, OTC and
healthcare products located in Chicago.
About GelStat Migraine
GelStat Migraine is a new over-the-counter (OTC, non-prescription) medication for acute relief from the pain and associated symptoms of migraine and migraine-like headaches. Over 90 percent of those with migraine use OTC medications as part of their treatment arsenal, though in only about 25 percent of those with moderate to severe headache pain are these older medications reported to exhibit any effect. Americans purchased approximately 560 million units of OTC headache remedies last year.
A recent clinical trial showed GelStat Migraine to be effective in 83 percent of patients, whose migraine pain was either eliminated or arrested at the mild pain phase by early treatment.
About GelStat Corporation
GelStat Corporation is a consumer healthcare company dedicated to the cost-effective development and marketing of advanced OTC healthcare products. Development efforts are focused on large markets where GelStat products can offer improved efficacy, safety, and/or convenience over existing OTCs. The Company's initial efforts center on developing products for migraine therapy and to improve sleep, both multi-billion dollar global markets. For more information, visit http://www.gelstat.com/
Forward-Looking Statements
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement other than a statement of historical fact should be considered a forward- looking statement. Such forward-looking statements are based on the Company's current expectations and involve known and unknown risks, uncertainties, or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products, or all products, may not develop as expected, or at all. Readers are cautioned not to place undue reliance on those forward- looking statements, which speak only as of the date hereof. The company undertakes no obligation and does not intend to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect unanticipated events or developments.
GelStat CorporationCONTACT: Media Inquiries: Tony Carideo of The Carideo Group,+1-612-317-2880, or Investor Relations: Brock Malky of Insight Capital,+1-724-453-1800
Web site: http://www.gelstat.com/
