American Bio Medica Sales Expand Into Asia; First Order Received as Aggressive Sales and Marketing Begins.Business Editors, Health/Medical Writers KINDERHOOK, N.Y.--(BUSINESS WIRE)--Jan. 8, 2001 American Bio Medica medica (māˑ·dē·k Corp. (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) ), which develops, manufactures and markets drugs of abuse diagnostic kits, sprays and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services , today announced that it has appointed Ampac Group, a diversified global company involved in the oil industry, construction, real estate, medical insurance and international trading for 25 years, to distribute its Rapid Drug Screen(TM) in Malaysia, Singapore, Thailand, Hong Kong, and other Asian countries. The Rapid Drug Screen will be sold thru Ampac offices, dealers, agents, hospitals, private medical clinics and pharmacies Ampac has offices in Asia, Africa and various other countries. Solomon Jacobson, its Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , heads the Company. Solomon stated, "Ampac is proud to be selected as a distributor for ABMC's Rapid Drug Screen product line. We have received our first order from a government agency and expect much more in the future." He added, "The Rapid Drug Screen products are unique and meet the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. standards but most importantly, they are extremely accurate and this, along with results in minutes, is most important to employers and governmental agencies. We expect to be ABMC's top international distributor with sales in 2001 to amount to $1 million." "It is very timely to the Rapid Drug Screen products to be introduced into this international market", stated ABMC Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Stan Cipkowski. "Increasing drug abuse in these areas have made the government implement death sentences for drug abusers, we have the right product at the right time and with Ampac as our distributor we expect to capture a large share of this potentially enormous market." American Bio Medica Corporation develops, manufactures and markets inexpensive, accurate on-site drugs-of-abuse diagnostic kits, sprays and support services worldwide. The company's global distributors target the workplace, physicians, corrections, clinical and educational markets. ABMC's Drug Detector(TM) identifies minute traces of illegal drugs on surfaces, while the company's Rapid Drug Screen tests individuals and is proven to correlate 100% with the standard laboratory screening test. 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 risk 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 on 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. |
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