Abbott Laboratories to Distribute American Bio Medica's Rapid Drug Screen to Hospital and Laboratory Markets in the U.S.HUDSON, N.Y.--(BUSINESS WIRE)--JULY 29, 1998--American Bio Medica medica (māˑ·dē·k Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABMC ABMC American Battle Monuments Commission ABMC Alexian Brothers Medical Center (Illinois) ABMC Aviation Battle Management Concept ABMC Arrowbear Music Camp (California) ) today announced that Abbott Laboratories (NYSE NYSE See: New York Stock Exchange :ABT), which acquired International Murex mu·rex n. pl. mu·ri·ces or mu·rex·es Any of various marine gastropods of the genus Murex common in tropical seas and having rough spiny shells, especially M. trunculus, the source of Tyrian purple. Technologies Corporation in April 1998, will market ABMC's Rapid Drug Screen(tm) under terms of the January 1998 distribution agreement between American Bio Medica and International Murex. Under the three year agreement, Abbott will distribute ABMC's on-site diagnostic test for drugs of abuse to clinical sectors, including hospitals, student health clinics, hospital-based occupational health clinics, and reference laboratories. According to Jay Bendis, vice president of sales and marketing at American Bio Medica, "As one of the largest diagnostic companies worldwide, Abbott is a perfect partner for American Bio Medica. Abbott's reputation for providing innovative solutions to the health care market will open new doors for sales of our Rapid Drug Screen in the clinical sectors where product quality is of the utmost importance." American Bio Medica Corporation develops, manufactures, and markets rapid, inexpensive, and easy to use diagnostic kits and support services to substance abuse testing markets worldwide. ABMC's drug detection strip is proven to correlate 100% with results produced by the screening test used as a standard in laboratories. Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. For further information, updates, and a current report, see www.otcfn.com/abmc CONTACT: OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Communications American Bio Medica Bob Joyce Stan Cipkowski (888) 433-3077 / (781) 444-6100 (800) 227-1243 |
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