AUSTRALIAN DISTRIBUTOR PROMOTES SNORING RELIEF FORMULA.
The Non-Disclosure and Cooperation Agreement protects Med Gen's patented formula and technologies and prevents Aurora from marketing any similar snoring relief formula. At the same time, it allows Aurora to market and promote Med Gen's technology as its own private label brand throughout the Pacific Rim where it has a very strong foothold. Aurora Pharmaceuticals' mission is to work with the leading edge biotech and research companies in the world to make available in the Asia Pacific region pharmaceutical products that are truly innovative, superior therapies, in efficacy, convenience or cost. "This partnership represents a real opportunity for Med Gen to capture a very significant market for all its products," said Paul Kravitz, company chairman and CEO. The Asian Pacific Rim countries, which includes China, Taiwan, Korea, Singapore, Japan, Australia and New Zealand, Indonesia, Philippines and Thailand, represent a population that is approximately 15 times larger than the United States or 4 billion people.
About Med Gen Inc.
Med Gen Inc., in business since 1996, manufactures and markets the world's first liquid spray snoring relief formula, Snorenz(R) for which it received a patent in 1998. Since its existence, Med Gen has continued to develop its "sprays the way" technology, and in 2003 introduced Good Night's Sleep(R) to the $1.5 billion sleep-aid market. Both Snorenz(R) and Good Night's Sleep(R) are nationally advertised and marketed to major chain and drug stores as well as direct sales via the company web site. The company is now testing a direct sales program featuring full-page print advertisement inserts within Sunday newspapers in key geographical regions. Following this strategy, Med Gen expects to service its present loyal customer base, and attract new customers, without incurring the huge costs involved in securing and keeping shelf space at major retailers. Implementing this marketing strategy is expected to have a very positive impact on the company's profitability. IRI, a retail data reporting service, suggests that the combined market for snoring and sleep aides could exceed $500 million.
For more information, visit http://www.medgen.com or call 561/750-1100.
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|Date:||Jan 1, 2006|
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