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"The company looks forward confidently to the future as our short,intermediate and long term plans begin to come together in a manner that willtranslate into top and bottom line growth," said Mihir K. Taneja. "The companycouldn't be more pleased to have consummated the Dynamic Health Products Inc.("Dynamic") acquisition on October 15th, 2007 and for its completion toimprove the revenue expectations anticipated for the fiscal years ending March31, 2008 and March 31, 2009."
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"The benefit of the first 5 months of the Dynamic deal should contribute27 million dollars to GeoPharma's revenues during that period, that beingsaid, we anticipate revenues in the 63 to 65 million dollar range for theMarch 31, 2008 fiscal year," stated GeoPharma VP/CFO Carol Dore-Falcone."Furthermore, for the fiscal year ending March 31, 2009, we believe thatrevenues in excess of 100 million dollars are more than achievable.Eliminating a marginally profitable Pharmacy Benefit Management ("PBM")business segment effective May 15, 2007 and replacing it with Dynamic, a moreprofitable distribution model, makes for an attractive transition givenDynamic is expected to provide higher revenues and profits."
Commenting on the FDA approval of generic Carprofen, GeoPharma CEO MihirK. Taneja stated, "We intend to produce and distribute our newly approved drugoffering and fully expect the first batches to be shipped shortly and thosesales to be reflected in the 3rd quarter ending December 31st, 2007."
"Having the Dynamic deal closed and our first FDA drug approval realizedshould illustrate to the street our ability to execute our stated strategicobjectives," continued Taneja. "This is only the beginning of the company'sfinancial blueprint. GeoPharma's drug pipeline contains 12 ANDA's and otherdrug products, several of these initiatives are pending approval and processcompletion. GeoPharma projects having 6 drug products contributing to thebusiness model by the period ending March 31st, 2009, adding approximately 15million dollars for that period to the top line. Our dedicated 100,000 Sq. Ft.Beta Lactam facility will play a major role in our future success and wecontinue to be encouraged by its progression toward production."
"The company predicts significant improvements in revenue and income inall aspects of our core businesses, not only for the remainder of the fiscalyear, but for the foreseeable future. Understandably, with our recentdevelopments, coupled with the knowledge that several new manufacturingcontracts are currently coming online and the inventory restructuring of amajor manufacturing client completed, it is easy for the company to bebullish," concluded Mr. Taneja.
A replay of the conference call will be available from 1:30 PM (ET) onNovember 14 through November 21, by dialing 1-888-286-8010 and entering passcode 38097544.
About GeoPharma, Inc.:
GeoPharma, Inc. is a rapidly growing pharmaceutical company specializingin the manufacturing and distribution of over-the-counter, nutritional,generic drug and functional food products. The company's growth strategy is tocapitalize on its manufacturing expertise to develop high margin generic ornovel drugs for niche markets with high barriers to entry. GeoPharma'scompetitive advantage lies in its ability to circumvent or overcome thechallenges in these markets. For more about GeoPharma, Inc., go to ourwebsites at www.geopharmainc.com, www.hoodiadexL10.com and www.onlineihp.com .
This press release may contain statements, which const
