Ferring, Inc. Delivers the Purchase Order Which will Commence the Marketing
of Resurgex Select into the Canadian Oncology Market
BASKING RIDGE, N.J., March 28 /PRNewswire-FirstCall/ -- Millennium Biotechnologies, Inc. a wholly owned subsidiary of Millennium Biotechnologies Group, Inc. (MBTG) announced today that it has received an $88,000 purchase order and letter of credit associated with the recently announced distribution agreement with Ferring, Inc. of Canada. Ferring, Inc. will commence the marketing and distribution of the Resurgex Select(R) product line into the Canadian Oncology marketplace upon the receipt of goods from Millennium this spring.
Ferring Canada is one of 40 Ferring S.A. operations located around the world which will launch Ferring's new Prostate Cancer Drug in 2010. This significant initiative offers a platform for Millennium to launch Resurgex throughout the Ferring global network.
The receipt of the guaranteed letter of credit validates Millennium's expansion into the international clinical oncology marketplace. International marketing and distribution partners in the oncology markets of Greece and now Canada have voluntarily embraced the opportunity to sell the Resurgex Select(R) product line within their respective countries.
Frank Guarino Chief Financial Officer of Millennium stated, "The culmination of this distribution agreement with Ferring, Inc. and the $88,000 letter of credit represents substantial progress for the Resurgex Select(R) product line. This event clearly verifies the revenue growth, future potential and clinical acceptance of the Resurgex Select(R) product line in the international nutritional supplement market."
Ferring is a Swiss-based, research driven, specialty biopharmaceutical group active in global markets. The company identifies, develops and markets innovative products in the areas of endocrinology, gastroenterology, gynecology, fertility and urology.
|SOURCE Millennium Biotechnologies, Inc.|
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