Navigation Links
RxElite Filling Critical Requirement for Strategic Partners in Asia, Europe, and Australia
Date:3/10/2008

RxElite Subsidiary, Fintech Expands Pipeline, Provides Critical API's and

Access to Multiple non-US Companies

MERIDIAN, Idaho, March 10 /PRNewswire-FirstCall/ -- RxElite, Inc. (OTC Bulletin Board: RXEI), a developer, manufacturer, and marketer of specialty generic prescription drug products, announced today that its recent acquisition of the assets of FineTech Laboratories, Ltd. is complete and that the new entity will operate as a wholly owned subsidiary of RxElite under the name FineTech Pharmaceutical, Ltd.

FineTech Pharmaceutical has an integrated team of 25 highly skilled and educated scientists led by Dr. Arie Gutman. This group has contributed to winning 75% "Paragraph IV" challenges, resulting in profits of more than $80 million for its clients. Additionally, it has completed development work for several of the world's leading pharmaceutical companies. FineTech will continue its efforts in research and development, while maintaining a focus on the manufacture of active pharmaceutical ingredients (APIs) for RxElite and other preferred clients.

"With the new acquisition of FineTech, our strategy to produce difficult product formulas has been extensively expanded to include complex APIs," commented Earl E. Sullivan, the COO of RxElite. "Dr. Gutman and his team are a world class addition to our capabilities and expanding markets."

"FineTech holds the patents on difficult to produce APIs, therefore generating significant non-US licensing opportunities, including annual royalty opportunities," said RxElite's SVP Business Development, Rick Schindewolf, "The acquisition of FineTech has expanded RxElite's drug pipeline substantially, thus filling a critical need for our strategic partners in Asia, Europe, and Australia for several of our new key products both in APIs and finished dosage formats."

The worldwide market for the finished dosage pharmaceuticals represented by FineTech's APIs is in excess of $4.5 billion annually. Additionally, FineTech has rights to multiple non-US dossiers for various presentations of the finished dosage products and is seeking licensure opportunities.

About RxElite, Inc.

RxElite, Inc. develops, manufactures and markets generic prescription drug products in specialty generic markets. These markets include products in the areas of anesthesia, sterile liquid dose drugs (including respiratory inhalation drugs, ophthalmics and injectable drugs) and transdermal patch products.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

For More Information:

Corporate Information

Ph: (208) 288-5550

Toll Free: (800) 414-1901

Fax: (208) 288-1191

Investor Relations

Craig Bird, 215-885-4981

chbird@segue.biz

Segue Ventures LLC


'/>"/>
SOURCE RxElite, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. /CORRECTION//- RxElite Temporarily Suspends Sales Under Its Registration Statement
2. Bavarian Nordic Receives $50 Million Advance Payment from HHS for Fulfilling Contract Milestones
3. Dey L.P. and Critical Therapeutics Launch Twice-Daily ZYFLO CR(TM) (Zileuton) Extended-Release Tablets for the Chronic Treatment of Asthma
4. Video: New Survey Finds Technology Plays a Critical Role in Lives of People with Multiple Sclerosis, Yet Many Are Not Using it to Overcome Disease-Related Challenges
5. Significant Progress Made in Nations Preparedness to Respond to Public Health Emergencies; But Gaps in Critical Areas Threaten Overall Readiness
6. HealthTrust Expands Contract With Instrumentation Laboratory for Critical Care Portfolio to Include Consorta
7. Logical Therapeutics Co-Founder and CEO Honored with a Distinguished Investigator Award from the American College of Critical Care Medicine
8. MBF Healthcare Acquisition Corp. and Critical Homecare Solutions Holdings, Inc. to Present at the 2008 UBS Healthcare Services Conference
9. Mission critical for carbon management
10. Genetic pathway critical to disease, aging found
11. Spectral announces data on the clinical utility of EAA(TM) to be presented at 12th Annual Critical Care for Endotoxemia Conference in Japan
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... ... May 25, 2016 , ... WEDI, the nation’s leading ... today announced that Charles W. Stellar has been named by the WEDI Board of ... January 2016. As an executive leader with more than 35 years of experience in ...
(Date:5/24/2016)... TEL AVIV, Israel , May 24, 2016   ... on providing physicians with artificial intelligence, real-time decision support tools ... selected to present at the 2016 Israeli Advanced Technology Industries ... part of Israel,s 15th National Life ... to 26th at the David Intercontinental Hotel in ...
(Date:5/23/2016)... ... May 23, 2016 , ... PrecisionAg® Media has released ... and Beyond. The paper outlines the key trends that are creating both opportunities ... witnessed a lot of highs and lows as the precision agriculture market has ...
(Date:5/23/2016)... ... May 23, 2016 , ... RoviSys, a leading ... in Aurora, Ohio, has broken ground on a new building in Holly Springs, ... area, this new location solidifies a commitment to business in the region. The ...
Breaking Biology Technology:
(Date:5/24/2016)... superior patient care by providing unparalleled technology to leaders of the medical imaging industry. ... recently added to the range of products distributed by Ampronix. Photo - ... ... ... ...
(Date:5/20/2016)... 2016  VoiceIt is excited to announce its ... By working together, VoiceIt and VoicePass will ... VoicePass take slightly different approaches to voice biometrics, ... and usability. ... partnership. "This marketing and technology partnership ...
(Date:5/16/2016)...   EyeLock LLC , a market leader of ... an IoT Center of Excellence in Austin, ... of embedded iris biometric applications. EyeLock,s iris ... security with unmatched biometric accuracy, making it the most ... EyeLock,s platform uses video technology to deliver a fast ...
Breaking Biology News(10 mins):