PDL first diagnostic laboratory to offer DR-70 diagnostic test to doctors and patients in US; AMDL executes on worldwide product commercialization strategy
TUSTIN, Calif., April 30 /PRNewswire-FirstCall/ -- AMDL, Inc. (NYSE Alternext US: ADL), a US-based pharmaceutical company with operations in China, announced today it has signed Precision Diagnostic Laboratory (PDL) Inc. as its first customer to offer the AMDL DR-70 (FDP) in vitro cancer test to patients and doctors in the US.
PDL Inc. is a full-service, CAP (College of American Pathologists) and CLIA-certified clinical laboratory that works directly with physicians, their staffs, and end patients to deliver reliable, timely, high-quality and accurate diagnostic testing. With this agreement, PDL is the first diagnostic laboratory in the US to offer the AMDL DR-70 (FDP) in vitro cancer test to doctors and their patients. To drive product awareness and education, AMDL and PDL will jointly train physicians and market the product to physicians and their patients in the US.
AMDL's agreement with PDL marks a critical milestone in an international commercialization strategy AMDL is executing for the test. This year, the Company expects to expand product distribution and sales into up to ten worldwide markets which could lead to up to $5 million in DR-70 sales for FY2009.
Mr. Doug MacLellan, Executive Chairman and CEO of AMDL stated, "This is a significant and highly-anticipated milestone in the commercialization and distribution for our DR-70 cancer test. We have extremely aggressive business and financial targets for this product and are very pleased to initiate sales with a highly-respected diagnostic lab like PDL for this potentially life-saving cancer test."
Mr. Minh Nguyen, CEO of PDL Inc. also commented, "Our agreement for AMDL's DR-70 blood test will expand market opportunities for PDL, especially within the cancer diagnostics sector. We are thrilled to be the first US-based lab to offer DR-70 to physicians and their patients and anticipate strong product sales for the test."
AMDL's DR-70 (FDP) is a US FDA-approved cancer test that can be easily and inexpensively added to the pre-existing line of diagnostics routinely performed by physicians and clinical laboratories through out the US. AMDL received clearance from the US FDA to market DR-70 for the monitoring of colorectal cancer on July 3, 2008. The product has also been cleared in other international markets including Canada for the detection of lung cancer, Korea and Taiwan as a general cancer screen, and has the CE mark from the European Union for product sales in Europe as a general cancer screen.
MacLellan continued, "This is an absolute win for AMDL and our shareholders, and the first in a productive line of distribution agreements we intend to sign for DR-70 and other strong selling products. We are better positioned now than at any other time in AMDL's 24-year history for success and remain focused on achieving 100% of our 2009 business and financial targets."
Over the past four years, AMDL has seen over 100% YOY growth and anticipates continuing this trend in FY2009. Management's focus on developing a strong, international sales and distribution network is the key to meeting this target.
Physicians and patients interested in learning more about PDL and the AMDL DR-70 (FDP) cancer test can visit PDL's website @ www.pdlinc.info or contact the company directly at (714) 373-9484. For additional information on AMDL, its portfolio of international health and beauty products, and 2009 business strategy, visit the Company's website at www.amdl.com or contact AMDL Investor Relations at email@example.com .
Headquartered in Tustin, CA with operations in Shenzhen, Jiangxi, and Jilin, China, AMDL, Inc., along with its subsidiary Jade Pharmaceutical Inc. (JPI), is a vertically integrated pharmaceutical company devoted to the research, development, manufacturing, and marketing of diagnostic, pharmaceutical, nutritional supplement, and cosmetic products. The company employs over 490 people in the U.S. and China.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to AMDL, Inc., except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.
AMDL Contact: Kristine Szarkowitz Director-Investor Relations firstname.lastname@example.org (Tel :) 206. 310.5323
|SOURCE AMDL, Inc.|
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