Remedent, Inc. Signs Exclusive Distribution Agreement with Chefaro Pharma Italia; Remedent's Tooth Whitening Products Shipped t
02 May 2006 - 2:01PM
Business Wire
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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