LARGO, Fla., July 21 GeoPharma, Inc.(Nasdaq: GORX) (the "Company") announced today the expansion of thedistribution agreement between the Company and Cura Pharmaceutical Co. (Cura).The original agreement signed between Cura and GeoPharma provided Cura theexclusive U.S. distribution rights of GeoPharma's patented oral Mucotrol(TM)wafer, which had received FDA approval as a medical device. The recentextension of the primary agreement allows for additional partners to besecured, proliferating the acceptance of Mucotrol(TM) in other regions of theworld previously unexplored. The new aspect of the agreement embraces two newregional 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 amethod of pain management for patients suffering from Oral Mucositis. OralMucositis is the formation of lesions on the inside of a patient's mouth whichcommonly present themselves after undergoing chemotherapy treatments forcancer. The Mucotrol(TM) wafer forms a soothing coating on the inside of thepatient's mouth. The coating that is created dramatically reduces thesensitivity of these mouth lesions, improving the general comfort of thepatient and making activities such as eating much more tolerable.
Commenting on the amendment, GeoPharma CEO Mihir K. Taneja stated, "Theexpansion of the Cura agreement to include additional worldwide partners isanother example of the continued development of GeoPharma's business plan. Weare pleased that the Mucotrol(TM) product is in higher demand and expandingits customer base."
"The opportunity to increase the scope of the Mucotrol agreement wasbeneficial to all involved," said Cura Pharmaceutical President FabioLanzieri. "GeoPharma garners very attractive avenues of additionaldistribution, while Cura enhances its global presence aligning itself with keystrategic partners in some of the fastest growing regions of the world. Itwould not surprise me at all to see additional business being conducted byGeoPharma and Cura in other product lines throughout the region as a result ofthis initial collaboration."
ABOUT CURA PHARMACEUTICAL, CO.:
Cura Pharmaceutical Co., Inc is a New Jersey based pharmaceuticalmarketing company that focuses on select niche markets through the offering ofspecialty products and services. Cura's strategy is to provide products to theAmerican Healthcare Practitioner and to create partnerships worldwide thatsatisfy a distinct unmet medical need and are cost effective. These productsoften are not readily accessible and provide enhancements to existingtreatments. 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 diversifiedbusiness model participating in 3 main market segments: Specialty Pharma,Manufacturing, and Distribution. The Specialty Pharma division specializes inthe formulation of generic drugs for human and veterinary usage and thedevelopment of medical devices used by oncologists and other medicalprofessionals. The Manufacturing and Distribution divisions manufacture,package, and distribute generic drugs, nutraceuticals, cosmetics, andfunctional food products for companies worldwide.
GeoPharma's growth strategy is to capitalize on its research andmanufacturing expertise to develop medical devices and high margin genericdrug products for niche markets with high barriers to entry. GeoPharma'scompetitive advantage in these areas is in its ability to navigate thechallenges that such market pursuits present effectively.
Currently GeoPharma employs over 300 people and operates facilities inFlorida, Maryland, Pennsylvania, Nevada, Rhode Island, and Texas utilizingover 330,000 sq.