AlphaRx Announces Letter of Intent To Acquire Pharmaceutical Manufacturing Company.Health/Medical Writers RICHMOND HILL Richmond Hill may refer to: Places:
AlphaRx Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ALRX) announced today that it has signed a letter of intent to acquire all the stock of a privately held US pharmaceutical manufacturing company. The Company manufactures under contract and private label business, with over 200 vitamin and mineral supplements in its product line. Financials details of the proposed acquisition are not disclosed at this time. Deloitte and Touche Corporate Finance Canada Inc. will be advising the Company on the acquisition. The acquisition is expected to close in April of 2002. "This acquisition supports AlphaRx's strategy on focusing on revenue growth, profit generation and operational improvements. It expedites the commercialization of our drug delivery technologies in the US as well as opening new business opportunities internationally. Opportunities for value creation are significant and the acquisition will immediately enhance underlying earnings," said Mr. Michael Lee Michael Lee may refer to:
"Our goal is to expand through strategic acquisitions. We believe this is the fastest way to introduce our drug delivery products to the worldwide market place. We are actively pursuing acquisition opportunities that will complement or extend our existing product lines or that would be compatible with our business philosophy and strategic goals. We believe that our leading medical and pharmaceutical research background and innovative product lines provide us with a strategic advantage in pursuing and consummating such opportunities," concluded Mr. Lee. The acquisition is subject to certain closing conditions, including satisfactory completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and execution of the Definitive Agreement. About AlphaRx AlphaRx is engaged in the development of novel formulations of drugs that are insoluble insoluble /in·sol·u·ble/ (in-sol´u-b'l) not susceptible of being dissolved. in·sol·u·ble adj. Not soluble. or poorly soluble in water. AlphaRx's broad product pipeline consists of carefully selected, currently marketed drugs which, through the application of its proprietary BCD (Binary Coded Decimal) The storage of numbers in which each decimal digit is converted into binary and is stored in a single character or byte. For example, a 12-digit number would take 12 bytes. See binary numbers. drug delivery technology, offer improved medical benefits over existing products with a strong commercial potential. FORWARD LOOKING STATEMENTS: This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the Company. |
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