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Xechem International, Inc.
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Xechem International, Inc.
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FOR IMMEDIATE RELEASE
Xechem International, Inc.
XECHEM ANNOUNCES EXCLUSIVE PRODUCT DISTRIBUTION
RIGHTS AGREEMENT WITH CHEMOLAB
NEW JERSEY, NEW BRUNSWICK, May. 8 -/E-Wire/-- Xechem International, Inc. (OTC BB: ZKEM) announced today that it has entered into an exclusive twenty year product distribution rights agreement with ChemoLab Corporation, of Ft. Worth, Texas, to provide drug distribution services in the United States for all of Xechem's pharmaceutical products.
Dr. Ramesh C. Pandey, Chairman and CEO of Xechem commented, "This agreement will give Xechem the opportunity for quick market access and the ability to sell our pharmaceutical products in the managed health care environment. It allows Xechem to minimize sales and marketing expenditures while maximizing our opportunities to develop and market new pharmaceutical products in the highly competitive managed health care environment."
Rodney D. Jones, Chairman and CEO of ChemoLab commented, "ChemoLab is pleased to become the exclusive U.S. drug distributor for all of Xechem's pharmaceutical products. This agreement allows ChemoLab to be even more competitive and to move to the forefront of the current national initiative of lowering prescription drug costs. ChemoLab's health care payer clients will, as a result of this agreement, dramatically lower their costs on cancer chemotherapy injectable drugs."
Xechem International, Inc., headquartered in New Brunswick, NJ, with subsidiary companies in the USA, India, Nigeria and joint venture partners in both Hong Kong and the Peoples Republic of China, is a biopharmaceutical company of which Xechem, Inc. (a US subsidiary) is engaged in the research, development and production of generic and proprietary drugs from natural sources, specializing in the development of niche-generic, difficult to replicate anticancer, antiviral, including Human Immuno-deficiency Virus (HIV) and antifungal compounds. Xechem is also engaged in the research and development of several novel anti-infectives showing strong and selective efficacy against an array of antibiotic resistant bacterias, including Helicobacter pylori (H. pylori), Vancomycin resistant Enterococcus faecalis (VREF), Methicillin resistant Staphylococcus aureus (MRSA), and other antibiotic resistant Staphylococcus aureus and Candida albicans. The Company also screens extracts and pure compounds from various parts of the world for their therapeutic use.
XetaPharm (another U.S. subsidiary) develops quality controlled nutritional products such as GinkgoOnce®, GinsengOnce®, GarlicOnce®, Gugulonâ¢, VIDA PRAS⢠and numerous other nutraceutical products, which are under development.
ChemoLab Corporation, headquartered in Ft. Worth, Texas, is a specialized National Cancer Chemotherapy Pharmacy And Wholesale Drug Distributor. ChemoLab provides out-patient cancer chemotherapy drugs and related support medicines used in the treatment of cancer through direct contracts with health care payers. ChemoLab's services include lowering cancer chemotherapy drug cost to the payers of health care and providing cancer disease management. ChemoLab currently has contracts to provide out-patient chemotherapy drugs and related cancer disease management services with healthcare payers that in aggregate insure more than 5 million lives.
Dr. Pandey concluded, "This agreement is a win-win for both organizations. Xechem is confident that its new products will quickly be introduced in the managed care drug distribution systems."
This and past press releases of Xechem International, Inc. are available at Xechem's web site at www.xechem.com.
For further information, contact John P. Luther, Esq., Vice President & General Counsel, at (732) 247 - 3300.
This news release may contain certain forward-looking statements relating to Xechem's future business performance within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks, uncertainties, including the ability of the Companies to successfully develop and commercialize their technologies, and other factors that may cause the actual results, performance or achievements of the Companies to be materially different from any future results, performance or achievements of the Companies expressed or implied by such forward-looking statements.
Xechem International, Inc.
John P. Luther, Esq., Vice President & General Counsel, at (732) 247 - 3300.
http://www.xechem.com.
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