TUSTIN, Calif., Sept. 20 /PRNewswire-FirstCall/ -- AMDL, Inc. (Amex: ADL), headquartered in Tustin, California, with operations in Shenzhen, Jiangxi and Jilin, China, through its wholly owned subsidiary Jade Pharmaceutical Inc. (JPI), is an international biopharma company that engages in the development, manufacture and marketing of proprietary pharmaceutical and diagnostic products. AMDL announced today that JPI has a new product development strategy focusing on expanded in-house research and development activities and the in-licensing of new products from 3rd party pharmaceutical research firms.
Frank Zheng, Managing Director of JPI, stated "Our new product development strategy is expected to provide at least an additional six new products to the Company's existing family of strong selling products over the next 36 months. Additionally, JPI is regularly reviewing various other product in-licensing opportunities."
Gary Dreher, CEO of AMDL, said that "JPI's outstanding product development strategy is one of the key engines of growth for the Company."
JPI is accelerating its new product development process beyond the nine new products that have already been announced. It currently has two products under review by the SFDA (China State Food and Drug Administration), AMDL's DR-70(R) cancer diagnostic test kit and Docetaxel Injectables. Both products are anticipated to be approved for sale in China during mid-2008.
"In order for JPI to manufacture the Docetaxel Injectable product, they will be required to build a segregated product line over approximately the next 12 months," Mr. Dreher said. "Docetaxel is expected to become JPI's best selling product, with estimated sales of upwards of $10 million per year beginning in mid-2008."
Additionally, four other products are in an R&D phase, including EO-H, a herbal treatment to improve bone density, TouJin NiangShi, an herbal liver cancer treatment, and Drotaverrine Hydrochloric and Diammonium Glycyrrhizinate, which are both chemotherapy therapeutic products. All four products are currently expected to gain SFDA approval within the next 24-36 months.
Lastly, AMDL announced that all the matters voted on at the Company's annual meeting were approved by a majority of the shareholders.
About Jade: Jade has access to the fastest growing pharmaceutical and consumer market in the world: China. AMDL, through its subsidiary, Jade currently manufactures large volume injectable fluids, tablets and other related products, holding licenses for 133 products. It also manufactures 107 generic, over the counter and supplemental pharmaceutical products under certified Chinese Good Manufacturing Practice (CGMP) standards.
About AMDL: More information about AMDL and its products can be obtained at http://www.amdl.com .
Forward-Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, and actual circumstances, events or results may differ materially from those projected in such forward-looking statements. The Company cautions readers not to place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims any obligation, to update or revise such statements to reflect new circumstances or unanticipated events as they occur.
Contact: AMDL, Inc.
Mr. Paul Knopick
AMDL Investor Relations
Direct Line: 949.707.5365
Voice Mail: 714.505.4460
|SOURCE AMDL, Inc.|
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