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ASXSF Elysee Development Corp (PK)

0.23362
0.00 (0.00%)
Last Updated: 17:15:43
Delayed by 15 minutes
Share Name Share Symbol Market Type
Elysee Development Corp (PK) USOTC:ASXSF OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.23362 0.2092 0.2605 0.00 17:15:43

Remedent, Inc. Signs Exclusive Distribution Agreement with Chefaro Pharma Italia; Remedent's Tooth Whitening Products Shipped t

02/05/2006 5:01am

Business Wire


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.

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