Fero Industries Announces Commercial Launch of Sucanon(R) in Mexico
CALGARY, AB -- (Marketwire) -- 03/16/11 -- Fero Industries, Inc. (OTCQB: FROI) (the "Company") is pleased to announce that the commercial launch and sales of Sucanon® in Mexico commenced in early January 2011 through Merck S.A. de C.V. as exclusive distributor in Mexico. Sucanon® is now available in over 500 point-of-sales of the major outlets and pharmacy chains.
"The commercial launch and sales of Sucanon® in Mexico by our exclusive distributor Merck S.A. de C.V. represents a significant advancement for our Company," said Mr. Luis M. Lopez, MBA., a Director of Fero Industries Inc. and President of Pharmaroth Latin America S.A., the Company's Mexican subsidiary. "Mexico has one of the largest and fastest growing diabetic populations in the world, estimated at 15% of the total population. Diabetes is now the leading cause of death in Mexico and costs the country more than one-third of its total public health care budget annually."
Sucanon® is one of only three approved drugs in the 5.6 billion dollar market for a class of diabetic medications called "Insulin Sensitizers." Pre-clinical and clinical studies show that Sucanon® and other insulin sensitizers lower a patient's blood sugar by increasing the muscle, fat and liver's sensitivity to the body's own naturally produced insulin.
Sucanon® is currently approved as an over-the-counter ("OTC") remedy for type-2 diabetes by regulatory authorities in Mexico and is distributed under an exclusive agreement with Merck S.A. de C.V. in Mexico. Merck S.A. de C.V. is the Mexico and Latin America sales and marketing organization of German pharmaceutical and chemical giant, Merck KGaA ($9.9 billion in 2009 sales).
About Fero Industries Inc.
Fero Industries, Inc. (OTCQB: FROI) is focused on diabetes prevention and treatments. The Company holds the intellectual property and other exclusive world-wide rights related to the production, marketing, and distribution of Sucanon®, a treatment for type-2 diabetes. Sucanon® is a member of a class of diabetic medications called insulin sensitizers. Insulin sensitizers lower blood sugar by increasing the muscle, fat and liver's sensitivity to insulin. Insulin sensitizers are blood sugar normalizing or euglycemic drugs that help return the blood sugar to the normal range without the risk of low blood sugars. Fero's strategy is to increase awareness, acceptance, and distribution of Sucanon® globally.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Fero Industries, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements.
The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings".
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