Samaritan's Marketing Authorization Application For Amphocil Approved in Greece
April 04 2006 - 9:15AM
Business Wire
Samaritan Pharmaceuticals, Inc. (AMEX:LIV) is pleased to announce
that its subsidiary Samaritan Pharmaceuticals Europe, S.A. has
received notification by the National Pharmaceuticals Organization,
(EOF) for a new marketing authorization for Amphocil in Greece. The
National Pharmaceutical Organization, (EOF), is the competent
authority for granting approval to market pharmaceutical and
medical products in Greece, similar to the FDA in the United
States. Samaritan Europe is currently assembling all the necessary
documents to make a pricing application with the Minister of
Development who issues official prices with the consent of the
Minister of Health. A nine-member Pricing Committee is responsible
for providing expert non-binding advice on pharmaceutical prices.
Once price approval is obtained, Samaritan will launch the product
in the Greek market, thus creating a stream of revenue for the
company. Dr. Christos Dakas, Managing Director for Samaritan
Pharmaceuticals Europe said, "I am very pleased with the swift
approval of the Marketing Authorization of Amphocil in Greece, this
brings the company a step closer to the implementation of a
marketing and sales infrastructure." Samaritan established its
European headquarters in Athens, Greece to allow access to the
markets of East Europe, Asia and African regions with a high
proportion of HIV patients, a target population for our most
advanced drug SP-01A. Samaritan Pharmaceuticals Europe is currently
building, a sales and marketing infrastructure to create revenue
for the normally undeveloped regions of Greece, Bulgaria, Romania,
Croatia, Serbia, Bosnia and Slovenia. On December 14, 2005,
Samaritan In-Licensed from Three Rivers Pharmaceuticals the Greece
& Cyprus Marketing Rights for Amphocil (an amphotericin B
cholesteryl sulfate complex for injection indicated for the
treatment of invasive aspergillosis, a fungal infection that occurs
in immuno-compromised patients). Currently, Samaritan
Pharmaceuticals Europe is trying to contract with other
pharmaceutical companies to sell and distribute niche, high valued
products in the above undeveloped European regions. Samaritan
Pharmaceuticals: "We LIV....to Save Lives." Samaritan is a
small-cap Biotech, driven to discover, develop, and commercialize,
innovative therapeutics' for AIDS, Alzheimer's, Cancer and Heart
disease. Look at www.samaritanpharma.com. Please register on
Website so we can notify you of upcoming conference calls, news and
events. Disclaimer The company disclaims any information that is
created by an outside party and endorses only information that is
communicated by its press releases, filings and Website. This news
release contains forward-looking statements that reflect
management's current beliefs about the potential for its drug
candidates, science and technology. However, as with any
biopharmaceutical under development, there are significant risks
and uncertainties in the process of development and regulatory
review. There are no guarantees that products will prove to be
commercially successful. For additional information about the
factors that affect the company's business, please read the
company's latest Form 10-K filed April 15, 2005. The company
undertakes no duty to update forward-looking statements.
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