AlphaRx Provides Corporate Update.Business Editors, Health/Medical Writers BIOWIRE2K RICHMOND HILL, Ontario--(BW HealthWire)--Feb. 26, 2001 AlphaRx Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AHRX) today provided an update to shareholders on its ongoing product and corporate development activities. Pain Management AlphaRx continues to progress in its pain management development program. AlphaRx's two lead products, oral and transdermal IndoFlex are in different stages of clinical and preclinical development in China and Canada respectively. AlphaRx has completed the development of its third drug delivery topical NSAID NSAID: see nonsteroidal anti-inflammatory drug. (Non Steroidal Non steroidal Not containing steroids or cortisone. Usually refers to a class of drugs called Non Steroidal Anti-Inflammatory Drugs (NSAID). Mentioned in: Antirheumatic Drugs Anti-inflammatory Drug) product with Ketoprofen as the active ingredient. AlphaRx anticipates its topical Ketoprofen will be marketed over-the-counter outside North America. AlphaRx's pain management pipeline consists of a series of currently marketed popular prescription and OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). topical and oral NSAID products which have been reformulated using its 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 technologies to enhance potency and reduce side effects Side effects Effects of a proposed project on other parts of the firm. . The worldwide sales of pain management products was estimated to have been US$6 billion in 1999. Nutraceutical AlphaRx has completed the DIN (Drug Identification Number) registration for 5 nutraceutical products in Canada. AlphaRx is proceeding to commercial production of these products for the North America market. AlphaRx believes its nutraceutical products, incorporating its BCD drug delivery technologies, have significant competitive advantage over regular products delivered by conventional means. AlphaRx is planning to launch 12 nutraceutical products in North America in 2001 and is actively pursuing foreign market opportunities for these products. Corporate development The Company has completed a 1 year US$1.5 million credit facility agreement with its founding shareholders and private investors. This credit facility will be used for nutraceutical production and general corporate working capital purposes. AlphaRx is establishing AlphaRx Beijing Limited in Beijing, China, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Company, in preparation for the launch of its products into the China and Asian markets. About AlphaRx AlphaRx is engaged in the development of novel formulations of drugs that are insoluble or poorly soluble in water. For additional information, please visit our web-site at www.AlphaRx.com FORWARD LOOKING STATEMENTS: This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor 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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