Groupe Athena, Inc. in Final Discussions for Drug Manufacture, Sets Release Date for 3rd Quarter Financials
March 25 2014 - 9:15AM
Marketwired
Groupe Athena, Inc. in Final Discussions for Drug Manufacture, Sets
Release Date for 3rd Quarter Financials
MUMBAI, INDIA--(Marketwired - Mar 25, 2014) - Groupe Athena,
Inc. (OTC Pink: GATA) (PINKSHEETS: GATA) announced today they are
in the final stages of negotiations with 2 Indian pharmaceutical
companies for the manufacture of the drug Atorvastatin, the generic
form of Lipitor. The company expects to finalize terms by the end
of April with formal license application to the UK MHRA expected to
follow by mid year.
As was previously announced, the initial license application
will be for the manufacture and sale of 25 and 50 mg Atorvastatin.
The UK National Health Service states that it is saving
approximately $1 million GBP per day on Atorvastatin since the
Lipitor patent expiration.
In addition to the Atorvastatin license, the company is also
conducting market research on other popular generics for license
within the UK including the blood pressure medicine, Atenolol.
The company has set the date of April 21 after the market close
for the release of 3rd quarter financials.
The Indian pharmaceutical industry was estimated to be over $21
Billion in 2010 and is expected to experience double digit annual
growth through the end of the decade. GATA has emerged as a vital
component of this growth by its ability to help Indian
manufacturers get their products approved by the FDA for sales in
the US.
For more information on Groupe Athena, Inc. please go to
www.otcmarkets.com/stock/GATA/quote or visit our corporate website
at www.groupeathena.com.
About Groupe Athena, Inc.
Groupe Athena Inc. was incorporated in June 2008 and began
operations on July 1 of that year. The company is a research and
testing organization and helps various pharmaceutical and medical
products and devices companies in India and Southeast Asia to get
regulatory approvals and facilitate exports of their products to
the United States. The Company accomplishes this by assisting
clients from concept through development, providing consultation on
regulatory requirements, filings and processes.
The company has a research and marketing facility in India that
currently employs 19 consultants and marketing personnel and is
working towards aggressively expanding its presence in the Indian
pharmaceutical industry. The Company's web address is
www.groupeathena.com
Safe Harbor Statement Certain statements set forth in this press
release constitute "forward-looking statements." Forward-looking
statements include, without limitation, any statement that may
predict, forecast, indicate, or imply future results, performance
or achievements, and may contain the words "estimate", "project",
"intend", "forecast", "anticipate", "plan", "planning", "expect",
"believe", "will likely", "should", "could", "would", "may" or
words or expressions of similar meaning. Such statements are not
guarantees of future performance and are subject to risks and
uncertainties that could cause the company's actual results and
financial position to differ materially from those included within
the forward-looking statements. Forward-looking statements involve
risks and uncertainties, including those relating to the Company's
ability to grow its business. Actual results may differ materially
from the results predicted and reported results should not be
considered as an indication of future performance. The potential
risks and uncertainties include, among others, the Company's
limited operating history, the limited financial resources,
domestic or global economic conditions -- activities of competitors
and the presence of new or additional competition and conditions of
equity markets.
For more information contact: Paul Cornell Corporate Shareholder
Relations Cornellpaul6@gmail.com