LARGO, Fla., July 21 /PRNewswire-FirstCall/ -- GeoPharma, Inc. (Nasdaq: GORX) (the "Company") announced today the expansion of the distribution agreement between the Company and Cura Pharmaceutical Co. (Cura). The original agreement signed between Cura and GeoPharma provided Cura the exclusive U.S. distribution rights of GeoPharma's patented oral Mucotrol(TM) wafer, which had received FDA approval as a medical device. The recent extension of the primary agreement allows for additional partners to be secured, proliferating the acceptance of Mucotrol(TM) in other regions of the world previously unexplored. The new aspect of the agreement embraces two new regional partners and allows for the dissemination of Mucotrol(TM) in India, Nepal, Bangladesh, Sri Lanka and South Korea.
Mucotrol(TM) is a concentrated oral gel wafer that was designed as a method of pain management for patients suffering from Oral Mucositis. Oral Mucositis is the formation of lesions on the inside of a patient's mouth which commonly present themselves after undergoing chemotherapy treatments for cancer. The Mucotrol(TM) wafer forms a soothing coating on the inside of the patient's mouth. The coating that is created dramatically reduces the sensitivity of these mouth lesions, improving the general comfort of the patient and making activities such as eating much more tolerable.
Commenting on the amendment, GeoPharma CEO Mihir K. Taneja stated, "The expansion of the Cura agreement to include additional worldwide partners is another example of the continued development of GeoPharma's business plan. We are pleased that the Mucotrol(TM) product is in higher demand and expanding its customer base."
"The opportunity to increase the scope of the Mucotrol agreement was beneficial to all involved," said Cura Pharmaceutical President Fabio Lanzieri. "GeoPharma garners very attractive avenues of additional distribution, while Cura enhances its global presence aligning itself with key strategic partners in some of the fastest growing regions of the world. It would not surprise me at all to see additional business being conducted by GeoPharma and Cura in other product lines throughout the region as a result of this initial collaboration."
ABOUT CURA PHARMACEUTICAL, CO.:
Cura Pharmaceutical Co., Inc is a New Jersey based pharmaceutical marketing company that focuses on select niche markets through the offering of specialty products and services. Cura's strategy is to provide products to the American Healthcare Practitioner and to create partnerships worldwide that satisfy a distinct unmet medical need and are cost effective. These products often are not readily accessible and provide enhancements to existing treatments. Cura's management team has extensive experience in the industry, with over 100 years of combined pharmaceutical experience.
ABOUT GEOPHARMA, INC.:
GeoPharma, Inc. is a rapidly growing Bio/Pharma company with a diversified business model participating in 3 main market segments: Specialty Pharma, Manufacturing, and Distribution. The Specialty Pharma division specializes in the formulation of generic drugs for human and veterinary usage and the development of medical devices used by oncologists and other medical professionals. The Manufacturing and Distribution divisions manufacture, package, and distribute generic drugs, nutraceuticals, cosmetics, and functional food products for companies worldwide.
GeoPharma's growth strategy is to capitalize on its research and manufacturing expertise to develop medical devices and high margin generic drug products for niche markets with high barriers to entry. GeoPharma's competitive advantage in these areas is in its ability to navigate the challenges that such market pursuits present effectively.
Currently GeoPharma employs over 300 people and operates facilities in Florida, Maryland, Pennsylvania, Nevada, Rhode Island, and Texas utilizing over 330,000 sq. ft. of office, warehouse, manufacturing and laboratory facilities.
For further information visit the "For Investors" section of the GeoPharma website at www.geopharmainc.com.
FORWARD LOOKING STATEMENTS
This press release may contain statements, which constitute forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those regarding the company and its subsidiaries' expectations, intentions, strategies and beliefs pertaining to future performance. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without management's control. Important factors that could cause such differences are described in the company's periodic filings with the Securities and Exchange Commission.
SOURCE GeoPharma, Inc.
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