RxElite, Inc. and Minrad International, Inc. Terminate Distributor Agreement
26 November 2008 - 4:21AM
Marketwired
RxElite, Inc. (OTCBB: RXEI) announced today that its manufacturing
and distribution agreement with Minrad International, Inc. has been
terminated. The termination of the manufacturing and distribution
agreement allows RxElite to supply anesthetic gas products to its
customers from alternative sources.
RxElite will continue to supply products to its customers from
existing inventory while working through supply arrangements from
alternative sources. RxElite will work closely with its customers
and vendors to ensure an ongoing supply of RxElite's key anesthetic
gas products.
About RxElite, Inc.
RxElite, Inc. develops, manufactures, and markets generic
prescription drug products in specialty generic markets. These
markets include products in the areas of anesthesia, sterile liquid
dose drugs (including respiratory inhalation drugs, ophthalmics,
and injectable drugs), and complex active pharmaceutical
ingredients. www.RxElite.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
involving known and unknown risks, delays, and uncertainties that
may cause our actual results or performance to differ materially
from those expressed or implied by these forward-looking
statements. These risks, delays, and uncertainties include, but are
not limited to: risks associated with the uncertainty of future
financial results, our reliance on our sole supplier, the limited
diversification of our product offerings, additional financing
requirements, development of new products, government approval
processes, the impact of competitive products or pricing,
technological changes, the effect of economic conditions and other
uncertainties detailed in the Company's filings with the Securities
and Exchange Commission. The Company undertakes no obligation to
update any forward-looking statements.
Contact: Investor Relations: Toll Free: (800) 414-1901 Fax:
(208) 288-1191
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