Elysee Development (PK) (USOTC:ASXSF)
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Remedent, Inc., (OTC BB: REMI) a leader in the research
and development, manufacturing and marketing of oral care and cosmetic
dentistry products, announced that it has signed a distribution
agreement with Chefaro Pharma Italia SRL, a subsidiary of Omega
Pharma, a leading European provider of OTC medicines and
parapharmaceutical products. On April 26, 2006, Remedent received
Chefaro Italia's initial order for the iWhite(TM) Tooth Whitening
System, and it expects the revenue from this initial order,
approximately EUR 1.4 million (US $1.7 million), to be realized in the
quarter ending September 30, 2006.
Under the terms of the agreement, Chefaro Italia's sales force
will distribute Remedent's iWhite's consumer products to pharmacies
throughout Italy, Vatican City and the Republic of San Marino. Chefaro
Italia will also have right of first refusal in the same countries for
new products Remedent is developing. Remedent has similar exclusive
distribution agreements for Spain, France, Portugal and Greece. These
seven nations combined represent a market of more than 180 million
consumers.
Robin List, CEO of Remedent, said, "We are very pleased to have
made this arrangement with Chefaro Italia. With a population of over
58 million, Italy is a significant European market for any consumer
product company. Teaming up with Chefaro Italia ensures that our tooth
whitening products will get the exceptional distribution and promotion
in this vital market that they merit. This agreement will help us
establish a solid market share quickly. We look forward to broadening
and deepening this relationship."
Marco Sbaffi, CEO of Chefaro Pharma Italia, commented: "As
exclusive territory distributor, we are very happy to commercialize
iWhite, the innovative whitening system built upon Remedent's highly
professional oral care and cosmetic knowledge. iWhite fills a very
fast growing consumer need with a unique, easy-to-use home whitening
program. We strongly believe iWhite has the potential to become one of
most representative brands inside Chefaro Pharma Italia's portfolio in
the next months."
Remedent, Inc., a publicly listed company trading on the OTC BB,
strives to be a world leader in the research and development,
manufacturing and marketing of oral care and cosmetic dentistry
products. Remedent products are renowned for their technological
superiority and ease-of-use. Based in Deurle, Belgium, Remedent has
successfully researched, developed and manufactured all of its own
products. These products are now distributed in more than 35 countries
worldwide. Remedent consists of two divisions: one that serves the
dental community and one that is focused on the over-the-counter
consumer market.
Omega Pharma, N.V. is a leading European provider of OTC medicines
and parapharmaceutical products available over the counter for the
household consumer with yearly revenues of approximately 1 billion
euro. Its Italian subsidiary, Chefaro Pharma Italia SRL, generated
turnover of EUR 50 million in 2005.
Certain matters discussed in this press release are
"forward-looking statements" intended to qualify for the safe harbors
from liability established by the Private Securities Litigation Reform
Act of 1995. In particular, the Company's statements regarding trends
in the marketplace and potential future results are examples of such
forward-looking statements. The forward-looking statements include
risks and uncertainties, including, but not limited to, the
consummation and the successful integration of proposed acquisitions,
the timing of projects due to the variability in size, scope and
duration of projects, estimates made by management with respect to the
Company's financial results, backlog, critical accounting policies,
regulatory delays, clinical study results which lead to reductions or
cancellations of projects, and other factors, including general
economic conditions and regulatory developments, not within the
Company's control. The factors discussed herein and expressed from
time to time in the Company's filings with the Securities and Exchange
Commission could cause actual results and developments to be
materially different from those expressed in or implied by such
statements. The forward-looking statements are made only as of the
date of this press release and the Company undertakes no obligation to
publicly update such forward-looking statements to reflect subsequent
events or circumstance.