Healthcare Industry News: TYLENOL
News Release - January 18, 2011
Genmed Recaps Successful Year
Seven Drug Distribution Licenses Obtained in 2010AMSTERDAM--(Healthcare Sales & Marketing Network)-- Genmed Holding Corp. (OTCBB:GENM.ob ) is recapping its success in 2010. During the year the Company obtained generic drug distribution licenses for the seven countries of: Netherlands, Belgium, Luxemburg, Ireland, United Kingdom, Germany, and France. The granting of these licenses allows Genmed to market and distribute the drug, Paracetamol, otherwise known as Acetaminophen. Common named brands of the drug are TYLENOL, marketed and distributed by Johnson & Johnson in the United States, and Panadol, which is GlaxoSmithKline’s trade name for the pharmaceutical drug most common to the United Kingdom.
Genmed Chief Executive Officer, Erwin Bouwens, said, “2010 was an extremely pivotal year for us. Now that the licenses have been granted we can focus on distribution and top-line revenue. Our cost structure is such that we can provide highly competitive pricing.” Genmed intends to offer Paracetamol on a private label basis as well as develop their own inhouse-brand. Paracetamol is one of the most popular analgesics used around the world. Over 120,000 tons of Paracetamol are consumed globally every year, 25% of which is in Europe.
“After successful completion of the two year application process we are finally in negotiations now with several clients both here in the European Union and in the Middle East. Demand here is still on the rise so our primary sales efforts are in the EU, however we are also exploring other markets where demand is high and the regulatory environment is not as tedious,” said Bouwens. Genmed expects purchase orders and initial shipments to begin within the first quarter of 2011.
About Genmed Holding Corp.
Genmed Holding Corp. is a United States and Dutch based company focusing on the delivery of low cost generic pharmaceutical drugs directly to distribution channels throughout the world. The Company began its generic drug business in 2008 and today operates primarily through its 100% owned subsidiary Genmed B.V., which is registered in the Netherlands. The Company is led by an experienced management team and board who have considerable and highly relevant experience in product development, registration, sales, marketing, distribution, operations, and financial administration.
For Additional Information, Go to the Website: www.genmed.nl
This press release contains certain "forward-looking statements" within the meaning of federal securities laws including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. Although the Company believes that the statements were reasonable when made, these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
Source: Genmed
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