University Health Industries Inc., (OTCBB:UVHI) a Florida corporation engaged in the development, marketing and sale of proprietary, patent-pending nutraceutical products, including its leading brands Arthroleve(TM) and Zenstral PMS(TM), announced today that it is launching a new pet health care division.
BOCA RATON, Fla. (Business Wire EON) June 30, 2008 -- The pet health care division is designed to expand University Health Industries' current market focus on human health into the pet health care market. The American Pet Product Manufactures Association (APPMA) estimates 2008 sales to be $10.3 billion for pet supplies and OTC medicines.
The lead product will be a pet formulated version of UHI's popular and successful Arthroleve™ product for joint health and arthritis, which will be designed with a dosage and delivery system specific to canines. Small animal veterinary analgesics has been one of the fastest growing segments of the pet health care market in the last ten years, since the launch of the non-steroidal anti-inflammatory drug (NSAID) Rimadyl® in 1996. Due to concerns over side effects associated with NSAIDS, many consumers choose to try nutraceutical products first. Currently, the canine joint health market is led primarily by glucosamine/chondroitin containing products including SynoviCare® and Cosequin®. UHI's adaptation of Artholeve™ for the canine market will allow us to offer consumers a unique patent-pending formulation with clinically-proven ingredients.
Dean Peloso, Chief Executive Officer of University Health Industries, was quoted as saying, "UHI's overall strategy has always included pet health care and we are excited about beginning the process of moving this forward. This new division complements the Company's current offerings in both its human health and environmental products."
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