Derma Sciences, Inc. receives market approval in the Philippines.
The approval grants a general clearance for six of the Company's products to be marketed and sold throughout the Philippines. The Company expects the final CPRs to be granted in the near future.
John T. Borthwick, President and Chief Executive Officer of DERMA SCIENCES, INC., stated that "This approval now clears the way for our partner, Inter-Health, Inc., to set up an official launch of our products. According to our contract dated April 1995, Inter-Health will begin to fulfill its obligations some time in the fourth quarter of 1996. The contract calls for minimum purchases of $358,000 over the next two years. The Philippine clearance represents the fourth foreign government approval for the Company's products behind Canada, Egypt and Indonesia."
Richard Stalbird, Director of International Business Development for DERMA SCIENCES, INC., stated "We are confident in Inter-Health's ability to capture its market and exceed the minimums associated with our contract."
DERMA SCIENCES, INC. is engaged in the research, development, marketing and sale of technology and products associated with tissue regeneration and the management of certain chronic non-healing skin ulcerations such as pressure and venous ulcers, surgical incisions and burns. The Company markets its products through independent distributors, mainly to health care providers to the geriatric community such as nursing homes, similar extended care facilities, hospitals and home health care agencies throughout the United States. In addition, DERMA SCIENCES, INC. products are available in selected markets throughout the world through strategic alliances with local companies.
CONTACT: Derma Sciences, Inc., Old Forge
John Borthwick, (717) 457-1232
L. G. Zangani, Inc., Flemington, N.J.
Robert Moore, 908/788-9660; Fax: 908/788-4024
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|Date:||Aug 20, 1996|
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