Targeted
Medical Pharma (OTCQB: TRGM), today announced the completion of an
agreement between Analytical Testing Laboratories (ATL), a Lebanon based
company that specializes in drug testing services and inborn errors of
metabolism, for the exclusive distribution of the company’s amino acid
based products to physicians and pharmacies throughout the Middle East.
The Agreement provides ATL with a limited exclusive license for the
marketing and sales of certain products in twenty countries in the
region. The Agreement includes a licensing fee, an annual minimum
product purchase order and certain performance benchmarks which include
meeting product registration and regulatory approvals as well as sales
volume in a given country.
“We are excited to introduce our products to the Middle East, and look
forward to working with ATL to rapidly scale the growth of their
distribution in the region,” said William Shell, M.D. Chief Executive
Officer and Chief Science Officer at Targeted Medical Pharma. “Expanding
international operations is a pivotal part of our growth strategy and
will provide additional capital for increased domestic sales.”
About Analytical Testing Laboratories
Analytical
Testing Laboratories (ATL) has been in operation since 1996. ATL is
licensed by the Lebanese Ministry of Health and is directed by Dr. Amer
Sakr. ATL is a specialized laboratory focusing on multidisciplinary
analysis in the fields of Medical Diagnostics, Genetic Metabolic
Diseases, Toxicology, Pharmaceutical Drug Testing Services, Food
Chemistry & recently in Molecular Biology DNA & GMO Testing. ATL has
been assigned by the Lebanese Internal Security Forces as the laboratory
of choice for Forensic Toxicology & DNA Testing purposes. Also, the
Ministry of Health has accredited ATL to do quality control testing on
drugs, pharmaceutical & cosmetic products.
About Targeted Medical Pharma, Inc.
Targeted
Medical Pharma, Inc. is a Los Angeles-based biotechnology company
that develops medical
foods for the treatment of chronic disease, including pain
syndromes, peripheral neuropathy, hypertension, obesity, sleep and
cognitive disorders. The company also develops a line of dietary
supplements designed to support health and wellness. The company
manufactures 10 proprietary medical foods, and recently launched its
first dietary supplement, Clearwayz™.
The products are sold directly to physicians and pharmacies in the
U.S. The company also is developing nutrient-based systems for oral
stimulation of progenitor stem cells that differentiate into neurons,
red blood cells, pituitary hormones including IGF-I.
Forward Looking Statement
This press release may contain
forward-looking statements related to Targeted Medical Pharma’s business
strategy, outlook, objectives, plans, intentions or goals. The words
"may," "will," "should," "plans," "explores," "expects," "anticipates,"
"continue," "estimate," "project," "intend," and similar expressions,
identify forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, but their absence does not
mean that the statement is not forward-looking. These statements are not
guarantees of future performance and are subject to certain risks,
uncertainties, and assumptions that are difficult to predict. Actual
results could differ materially. Targeted Medical Pharma expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statement contained herein to reflect any change in the
company's expectations with regard thereto or any change in events,
conditions or circumstances upon which any statement is based.
Copyright Business Wire 2014