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:10/11/2017)... ... October 11, 2017 , ... At its national ... Dr. Suneel I. Sheikh, the co-founder, CEO and chief research scientist of Minnesota-based ... selected for membership in ARCS Alumni Hall of Fame . ASTER Labs ...
(Date:10/11/2017)... CA, USA (PRWEB) , ... October 11, 2017 , ... ... to take place on 7th and 8th June 2018 in San Francisco, CA. The ... influencers as well as several distinguished CEOs, board directors and government officials from around ...
(Date:10/11/2017)... LAGUNA HILLS, Calif. , Oct. 11, 2017 /PRNewswire/ ... London (ICR) and University of ... tool to risk-stratify patients with multiple myeloma (MM), in a ... . The University of Leeds is ... Myeloma UK, and ICR will perform the testing services to ...
(Date:10/11/2017)... ... October 11, 2017 , ... Singh ... orphan drug designation to SBT-100, its novel anti-STAT3 (Signal Transducer and Activator of ... SBT-100 is able to cross the cell membrane and bind intracellular STAT3 and ...
Breaking Biology Technology:
(Date:4/11/2017)... 2017 No two people are believed ... New York University Tandon School of Engineering and ... that partial similarities between prints are common enough ... phones and other electronic devices can be more ... lies in the fact that fingerprint-based authentication systems ...
(Date:4/5/2017)... , April 5, 2017  The Allen Institute ... Allen Cell Explorer: a one-of-a-kind portal and dynamic digital ... 3D imaging data, the first application of deep learning ... human stem cell lines and a growing suite of ... platform for these and future publicly available resources created ...
(Date:4/4/2017)... YORK , April 4, 2017   EyeLock ... today announced that the United States Patent and Trademark ... patent broadly covers the linking of an iris image ... same transaction) and represents the company,s 45 th ... latest patent is very timely given the multi-modal biometric ...
Breaking Biology News(10 mins):