NEW PALTZ, N.Y., April 13, 2004 (PRIMEZONE) -- American Scientific Resources, Inc. (Pink Sheets:ASRO) announced today it has received an initial order from Walgreen Co. (NYSE:WAG), the nation's largest drugstore chain, for its pediatric medicine delivery system. Terms of the transaction were not disclosed. The pediatric medicine delivery system is part of the Kidz-Med product line. It will soon be stocked at all Walgreen's nationwide distribution centers.
The pediatric medicine delivery system is a new and easy way to give medicine to infants and toddlers who use pacifiers. The pediatric medicine delivery system is an ergonomically designed hinged "syringe." A small channel inside the pacifier nipple allows medication to be easily, gently and accurately administered by depressing the plunger or by the baby's normal sucking. The plunger locks in place when the syringe is fully expelled.
"Receiving an order from one of the largest drugstore chains in the U.S. demonstrates just how viable our products are in today's highly competitive marketplace," said Peter Lordi, President of American Scientific Resources. "American Scientific has a line of outstanding products serving each of the pediatrics and home health sectors. We believe this is just the beginning of a relationship which can potentially include a long-term commitment for our easy-to-use medicine dispensing product. In fact, this opens the door for many of our other high quality products for possible purchase through Walgreens as well."
Walgreen Co. is the nation's largest drugstore chain, with fiscal 2003 sales of $32.5 billion and 4,290 stores in 44 states and Puerto Rico. The company, which plans to open 450 new stores nationwide in fiscal 2004, also operates Walgreens Health Initiatives, which provides pharmacy benefits management, mail service prescriptions and other clinical services.
About American Scientific Resources:
American Scientific Resources, Inc., based in upstate New York, is an emerging medical products manufacturer and distributor. The company has developed a line of cutting edge, patented products that are easy to use and cost effective. Each line of products fills a current need acknowledged by clinical or medical professionals and targets a specific market; pediatrics, hospital/laboratory and home health.
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