Healthcare Industry News: metabolic disease
News Release - November 16, 2010
Spencer Pharmaceutical Discloses Al-Dora Holdings as the Buyout Offering EntityBOSTON, MA--(Healthcare Sales & Marketing Network) - Spencer Pharmaceutical Inc. (Pinksheets:SPPH ) disclosed today that the Al-Dora Holdings is the buyout offering entity.
According to information provided to the company, the Al-Dora Holdings is a Kuwaiti private investment company owned and managed by some of the Gulf's richest families. The Al-Dora Holdings is represented by its chairman, His Excellency Dr. Bandar Al-Dhafiri and its CEO His Excellency Hussein Al-Awaid.
The companies' representatives are schedule to hold a meeting in Canada to negotiate a definitive agreement on or before December 22, 2010, this is respecting the Muslim holidays which are currently in effect.
"We are happy to now be advanced enough to disclose the name of the acquiring party," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "Even though, we are advancing with our research and licensing we are putting forth all necessary efforts to see this transaction to a successful conclusion," further added Dr. Arella.
About Spencer Pharmaceutical Inc.
Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.
About Al-Dora Holdings
Al-Dora Holdings is a private investment company located in Kuwait. Al-Dora Holdings is a subsidiary of the Al-Dora Group. (In the translation from Arabic to English, Al-Dora is sometimes spelled Dorra and/or Dura). The Al-Dora Group has investments in the financial sector, oil and gas, pharmaceutical, and real estate.
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Source: Spencer Pharmaceutical
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