Bigmar Awarded Contract by Sigma-Tau to Perform Pharmaceutical Research Studies.Health/Medical Writers & Business Editors JOHNSTOWN, Ohio--(BW HealthWire)--May 15, 2000 Bigmar Inc. (Nasdaq:BGMR BGMR Bigmar Inc. (stock symbol) ) today announced that it has been awarded a one-year contract by Sigma-Tau Farmaceutiche Riunite S.p.A. of Italy to determine the feasibility of L-Carnitine infusion treatments in various new dosages, volumes and combinations with other ingredients. Financial terms of the agreement were not disclosed. Sigma-Tau, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. based in Rome, is a major player in the Italian pharmaceutical market and devotes nearly 20% of its annual revenues to research and development investments. Sigma-Tau is the worldwide leader in L-Carnitine and is the owner of several key related patents in the field. Other therapeutic areas in which Sigma-Tau is strongly active include oncological, cardiovascular, gastroenterological and immunological immunologic, immunological emanating from or pertaining to immunology. immunologic competence see immunocompetence. immunologic domains indications. Sigma-Tau has operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Spain, Switzerland, the Netherlands, France and Germany, and also operates elsewhere through licensees or representative offices. Under the terms of the agreement, Bigmar will conduct detailed studies to assist Sigma-Tau in determining the feasibility of manufacturing I.V. infusions of L-Carnitine. John G. Tramontana, chairman and chief executive officer of Bigmar, stated: "Our proprietary technology and research capabilities will be instrumental in carrying out this technically challenging assignment. An integral part of Bigmar's strategic plan going forward is to become a key player in the market for ready-mixed intravenous solutions, especially for oncological applications. "I believe the strides we have already made in this promising new market segment were determining factors in our contract award from Sigma-Tau." Bigmar is a manufacturer of generic pharmaceutical oncology oncology /on·col·o·gy/ (ong-kol´ah-je) the sum of knowledge regarding tumors; the study of tumors. on·col·o·gy n. products and intravenous infusion solutions, which it manufactures at its state-of-the-art facilities in Switzerland. The company markets its products through partnerships of pharmaceutical distributors in Europe and the United States and focuses on off-patent oncological pharmaceuticals. For more information, visit the company's Web site, www.bgmr.com. Statements in this news release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties. No assurance can be given that the company will successfully develop or commercialize its products, complete clinical trials, obtain regulatory approvals (or that any such approvals will be obtained on a timely basis) or be able to manufacture or successfully commercialize such products. Actual results may differ from those described in this news release due to risks and uncertainties that exist in the company's operations, including, without limitation, the ability to obtain additional financing to continue operations when needed, a history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. and accumulated deficits, the company's reliance on collaborative relationships, and uncertainties related to clinical trials, the ability to obtain the appropriate regulatory approvals and market acceptance, as well as other risks detailed from time to time in publicly available filings with the Securities and Exchange Commission such as the company's Annual Report on Form 10-KSB and its most recent Registration Statement on Form S-3 filed on Dec. 8, 1999. Actual results may differ materially from those currently anticipated as a result of such risks, and results for interim periods are not necessarily indicative of results to be expected for the full year. The company undertakes no obligation to release publicly the results of any revision to these forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. to reflect events or circumstances arising after the date hereof. These statements are made 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. |
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