Healthcare Industry News: periodontal disease
News Release - March 5, 2007
Obagi Medical Products and Dongkook Pharmaceuticals Announce Launch of Obagi Nu-Derm System Skincare Products in South Korea
Newly Introduced Condition and Enhance System to be Marketed for Use Before and After Popular Aesthetic ProceduresLONG BEACH, Calif.--(HSMN NewsFeed)--Obagi Medical Products, Inc. (Nasdaq:OMPI ), a leader in topical aesthetic and therapeutic skin health systems, today announced it has received regulatory approval from the Korean Ministry of Health to market the Company's leading prescription skincare line, the Obagi Medical Nu-Derm System(TM), as well as the Obagi Medical Nu-Derm Condition and Enhance System(TM) for use before and after popular aesthetic procedures including Botox injections and Laser resurfacing. Dongkook Pharmaceuticals, an established pharmaceuticals marketing and manufacturing company, will begin selling Obagi Medical products this week throughout South Korea under an existing exclusive agreement with the Company.
"Entering South Korea gives the Company access to one of the major international aesthetic markets," said Curtis Cluff, executive vice president corporate development and operations for Obagi Medical Products. "South Korea exceeds most European countries in aesthetic physicians per capita, with more than 2,000 private clinics in the city of Seoul alone. We believe our products are well positioned to offer improved patient outcomes with commonly conducted aesthetic procedures, and will address the desire that exists in South Korea for skin that looks and acts younger and healthier."
David Kwon, President and CEO of Dongkook Pharmaceuticals, said, "Obagi Medical is a strong brand as a result of the efficacy and established track record of their products. We are excited to bring this gold-standard of skin health treatment to the South Korean medical market."
Obagi Medical Products also plans to market and sell in South Korea its new CLENZIderm M.D.(TM) acne system, and its ELASTIderm(TM) anti-aging eye skincare system once regulatory registration and approval for these products are completed.
About Dongkook Pharmaceutical Co., Ltd. (www.dkpharm.co.kr)
Dongkook Pharmaceutical Co., Ltd., established in 1968, manufactures and distributes pharmaceutical products that treat a variety of conditions including periodontal disease and stomatitis, as well as topical products designed to aid in wound healing. Dongkook was selected as a 'Company of Superior Patents Management' by the Ministry of Commerce in Korea. Corporate offices are located in Seoul, Korea with offices and distributors in key markets throughout the world. Dongkook entered an initial distribution agreement with Obagi Medical Products in 2006 and will sell Obagi Medical skin health products in Korea through their own dedicated sales force.
About Obagi Medical Products, Inc. (www.obagi.com)
Obagi Medical, a leader in the physician-dispensed skin care channel, develops and commercializes skin health products for the dermatology, plastic surgery, and related aesthetic markets. Using its Penetrating Therapeutics(TM) technologies, Obagi Medical's products are designed to improve penetration of agents across the skin barrier for common and visible skin conditions in adult skin such as chloasma, melasma, senile lentigines, acne vulgaris and sun damage. Obagi launched its first skincare system, Obagi Nu-Derm, in 1988; and in 2004 launched the first and only prescription-strength Vitamin C and hydroquinone system, Obagi-C Rx. In 2005, the Company launched Obagi Professional-C, a line of highly stable vitamin C serums. In 2006, the Company introduced Obagi Nu-Derm Condition and Enhance, positioned for use with cosmetic procedures to enhance patient outcomes and satisfaction. The Company launched ELASTIderm(TM) Eye skin care and Obagi CLENZIderm M.D.(TM) acne therapeutic systems in February 2007. Obagi System products are only available through physicians. Visit www.obagi.com for information.
Forward-Looking Statements
There are forward-looking statements contained herein, which can be identified by the use of forward-looking terminology such as the words "believes," "expects," "may," "will," "should," "potential," "anticipates," "plans" or "intends" and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from the future results, events or developments indicated in such forward-looking statements. Such factors include, but are not limited to the intense competition our products face and will face in the future, the level of market acceptance of our products, the possibility that our products could be rendered obsolete by technological or medical advances, the possibility that our products may not receive required regulatory approvals and the possibility that our products may cause undesirable side effects. A more detailed discussion of these and other factors that could affect results is contained in our filings with the U.S. Securities and Exchange Commission, including our Registration Statement on Form S-1. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. No assurance can be given that the future results covered by the forward-looking statements will be achieved. All information in this press release is as of the date of this press release and Obagi Medical Products does not intend to update this information.
Source: Obagi Medical Products
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