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Samaritan Pharmaceuticals, Inc. (AMEX:LIV) is pleased to
announce that its subsidiary Samaritan Pharmaceuticals Europe, S.A.
has received notification by the National Pharmaceuticals
Organization, (EOF) for a new marketing authorization for Amphocil in
Greece.
The National Pharmaceutical Organization, (EOF), is the competent
authority for granting approval to market pharmaceutical and medical
products in Greece, similar to the FDA in the United States.
Samaritan Europe is currently assembling all the necessary
documents to make a pricing application with the Minister of
Development who issues official prices with the consent of the
Minister of Health. A nine-member Pricing Committee is responsible for
providing expert non-binding advice on pharmaceutical prices.
Once price approval is obtained, Samaritan will launch the product
in the Greek market, thus creating a stream of revenue for the
company. Dr. Christos Dakas, Managing Director for Samaritan
Pharmaceuticals Europe said, "I am very pleased with the swift
approval of the Marketing Authorization of Amphocil in Greece, this
brings the company a step closer to the implementation of a marketing
and sales infrastructure."
Samaritan established its European headquarters in Athens, Greece
to allow access to the markets of East Europe, Asia and African
regions with a high proportion of HIV patients, a target population
for our most advanced drug SP-01A. Samaritan Pharmaceuticals Europe is
currently building, a sales and marketing infrastructure to create
revenue for the normally undeveloped regions of Greece, Bulgaria,
Romania, Croatia, Serbia, Bosnia and Slovenia. On December 14, 2005,
Samaritan In-Licensed from Three Rivers Pharmaceuticals the Greece &
Cyprus Marketing Rights for Amphocil (an amphotericin B cholesteryl
sulfate complex for injection indicated for the treatment of invasive
aspergillosis, a fungal infection that occurs in immuno-compromised
patients). Currently, Samaritan Pharmaceuticals Europe is trying to
contract with other pharmaceutical companies to sell and distribute
niche, high valued products in the above undeveloped European regions.
Samaritan Pharmaceuticals: "We LIV....to Save Lives."
Samaritan is a small-cap Biotech, driven to discover, develop, and
commercialize, innovative therapeutics' for AIDS, Alzheimer's, Cancer
and Heart disease. Look at www.samaritanpharma.com. Please register on
Website so we can notify you of upcoming conference calls, news and
events.
Disclaimer
The company disclaims any information that is created by an
outside party and endorses only information that is communicated by
its press releases, filings and Website. This news release contains
forward-looking statements that reflect management's current beliefs
about the potential for its drug candidates, science and technology.
However, as with any biopharmaceutical under development, there are
significant risks and uncertainties in the process of development and
regulatory review. There are no guarantees that products will prove to
be commercially successful. For additional information about the
factors that affect the company's business, please read the company's
latest Form 10-K filed April 15, 2005. The company undertakes no duty
to update forward-looking statements.