PanGeo Pharma and Pseudoephedrine Investigation.Business Editors MONTREAL--(BUSINESS WIRE)--April 16, 2003 PanGeo Pharma Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :PIL (Publishing Interchange Language) A standard for document interchange that defines the placement of text and graphics objects on the page. It does not address the content of the objects. PIL - Procedure Implementation Language. ), today announced that officers of the RCMP attended at PanGeo's Cote de Liesse facility - acquired as part of the acquisition of Formulex Canada Inc. in May 2000 - in connection with an investigation into the sale and diversion of pseudoephedrine pseudoephedrine /pseu·do·ephed·rine/ (-e-fed´rin) one of the optical isomers of ephedrine; used as the hydrochloride or sulfate salt as a nasal decongestant. pseu·do·e·phed·rine n. from various Canadian producers into 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. . This investigation follows from events which were previously described by the national media and the Company in a press released dated January 11, 2002. In connection with this investigation a shop-floor employee of PanGeo was arrested on April 15, 2003. Prior to terminating the production and sale of pseudoephedrine for export in January, 2002, PanGeo diligently complied with all applicable laws and regulations concerning the sale and export of this product, a decongestant decongestant /de·con·ges·tant/ (de?kon-jes´tint) 1. tending to reduce congestion or swelling. 2. an agent that so acts. de·con·ges·tant n. found in cold and allergy remedies. The Company maintains that any alleged unlawful activities were undertaken contrary to the practices or directions of PanGeo Pharma and the Company has been assisting the RCMP in all appropriate aspects of the investigation. About PanGeo: PanGeo Pharma Inc. (www.pangeopharma.com) is a specialty pharmaceutical company with core competencies in pharmaceutical manufacturing and marketing. The company manufactures and supplies a range of specialty pharmaceutical products and services to Canadian and international markets. |
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