CALGARY, Canada, June 23, 2011 /PRNewswire/ -- Fero Industries,
Inc. (OTCQB: FROI) (the "Company") is pleased to announce that it
has contracted PNP Pharmaceuticals Inc. as the exclusive global
manufacturer of Sucanon®, an oral treatment for type-2 diabetes.
"The addition of PNP Pharmaceuticals as the exclusive Sucanon®
manufacturer will immediately allow us to expand our supply
capabilities to meet current demands and satisfy the anticipated
increase in product volume required as we expand Sucanon® into new
territories around the globe," said Mr. Luis Lopez, Chief Operating Officer of Fero
Industries. "During this expansion period, maintaining
absolute quality and formulation control is essential to our
success. PNP's worldwide experience and dedication to
excellence will ensure that we achieve these goals."
PNP Pharmaceuticals Inc. (PNP) is a leading Canadian contract
manufacturer of pharmaceuticals, nutraceuticals, and other OTC
products for export to markets worldwide. Founded in 1999,
PNP has the expertise and high-volume production capabilities to
formulate, blend, and package any form of Sucanon® (capsule,
tablet, or bulk package for overseas transport) to the highest
industry standards. PNP operates an ultra-modern 48,000
square foot manufacturing facility that meets or exceeds all "Good
Manufacturing Practice" guidelines set forth by the US Food and
Drug Administration (FDA) and World Health Organization (WHO).
This facility was the first ever location in Canada to be issued a Natural Health Products
Directorate (NHPD) site license. PNP is also Quality
Management Systems certified ISO 9001:2000.
About Sucanon®
Sucanon® is one of only three approved drugs in the
multi-billion dollar market for a class of diabetic medications
called "insulin sensitizers". Pre-clinical and clinical
studies show that Sucanon® and other insulin sensitizers lower a
patient's blood sugar by increasing the muscle, fat and liver's
sensitivity to the body's own naturally produced insulin.
Sucanon® has been approved for prescription sale in
China and Peru. Sucanon® is also approved as an
OTC treatment for type-2 diabetes by regulatory authorities in
Mexico, and is distributed there
under an exclusive agreement with Merck S.A. de C.V.
For further information regarding Sucanon®, please visit the
Fero Industries Inc. website at www.feroindustries.com, email us at
info@feroindustries.com, or call toll-free (855) 543-4900.
About Fero Industries Inc.
Fero Industries, Inc. (OTCQB: FROI) is focused on diabetes
prevention and treatments. The Company holds the intellectual
property and all exclusive world-wide rights related to the
production, marketing, and distribution of Sucanon®, an oral
treatment for type-2 diabetes. Sucanon® is a member of a
class of diabetic medications called insulin sensitizers.
Insulin sensitizers lower blood sugar by increasing the
muscle, fat and liver's sensitivity to insulin. Insulin
sensitizers are blood sugar normalizing or euglycemic drugs that
help return the blood sugar to the normal range without the risk of
low blood sugars. Fero's strategy is to increase awareness,
acceptance, and distribution of Sucanon® globally.
For investor relations contact:
Michael Irving
Paramount Advisors, LLC
(407) 878-5462
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such
statements may be identified by the use of words such as
"anticipate," "believe," "expect," "future," "may," "will,"
"would," "should," "plan," "projected," "intend," and similar
expressions. Such forward-looking statements, involve known
and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of Fero Industries,
Inc. (the Company) to be materially different from those expressed
or implied by such forward-looking statements.
The Company's future operating results are dependent upon many
factors, including but not limited to the Company's ability to: (i)
obtain sufficient capital or a strategic business arrangement to
fund its expansion plans; (ii) build the management and human
resources and infrastructure necessary to support the growth of its
business; (iii) competitive factors and developments beyond the
Company's control; and (iv) other risk factors discussed in the
Company's periodic filings with the Securities and Exchange
Commission, which are available for review at www.sec.gov under
"Search for Company Filings".
SOURCE Fero Industries, Inc.