Gumtech to Produce Aspergum and Chooz for Schering-Plough HealthCare Products.
Aspergum(R) Aspirin Pain Reliever uses chewing gum as a delivery system to conveniently release aspirin into the bloodstream. Chooz(R) Antacid is a functional chewing gum which provides antacid relief in a sodium-free, calcium rich formula.
Schering-Plough HealthCare Products is the OTC pharmaceutical and consumer products unit of Schering-Plough Corp., a $7 billion research-based company engaged in the world-wide discovery, development, manufacture and marketing of pharmaceutical and health care products. Schering-Plough HealthCare Products will continue to market and distribute the gums.
"We are honored that we have been selected by Schering-Plough HealthCare Products to manufacture two of their well-known branded products," said Gumtech President Gary Kehoe.
"This is another example of Gumtech successfully establishing a relationship with a recognized and well-respected market leader because of our unique research and development and OTC manufacturing capabilities. We are equally excited by our purchase of the manufacturing equipment previously used at Schering-Plough's Memphis manufacturing facility."
According to Kehoe, "The equipment, which is currently being installed at our OTC manufacturing facility in Phoenix, increases our capacity to more efficiently service our growing list of customers. Combined with recently ordered additional blister packaging equipment and new cartoning equipment, we are setting the stage for our anticipated growth through the year 2000."
Kehoe further noted that, "We are currently making modifications to our manufacturing plant to facilitate our FDA process validations for scale-up of nicotine gum for clinical trials. With the recent restructuring of the board and redirection of our operational goals, we have refocused the company on the core business of research and development with the manufacturing capability to take R&D into finished products."
Gumtech distributes its functional chewing gum products to many of the nation's top drugstores, mass merchandisers and health food chains, and the company produces a number of products for major private label companies. Gumtech operates one of the most advanced chewing gum manufacturing plants in the United States and is the only stainless steel gum manufacturing facility registered with the Food and Drug Administration to produce over-the-counter products.
Gumtech is located at 246 E. Watkins Street, Phoenix, Arizona 85004. E-Mail: Michael@gum-tech.com -0-
Note to Editors: Gumtech Forward-Looking Statement: Gumtech's future results of operations and other forward-looking statements contained in this document, in particular statements concerning plant efficiencies and capacities, capital spending, research and development and other expenses involve a number of risks and uncertainties.
In addition to the factors discussed above among the other factors that could cause actual results to differ materially are the following: business conditions and the general economy; competitive factors, such as a rival gum manufacturers' pricing marketing efforts; availability of third-party material products at reasonable prices; unused barter credits; if any risk of nonpayment of accounts receivable; risks of inventory obsolescent due to shifts in market demand; timing of product introductions; and litigation involving product liabilities and consumer issues.
CONTACT: Owens & Associates, Phoenix
Lamar Owens, 602/230-7557
Gumtech International Inc., Phoenix
Gary Kehoe or Jeff Bouchy, 602/252-1617
|Printer friendly Cite/link Email Feedback|
|Date:||Apr 14, 1998|
|Previous Article:||Honeywell and Flowserve Form Global Strategic Alliance.|
|Next Article:||Galaxy Foods Boosts Gross Margins by Over 200%; Year-End Revenues Advance by 30%.|