HOUSTON, June 8, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) is pleased to provide more information regarding the European Biotech Retractable Syringe company and their high demand industry.
As mentioned in a previous press release dated June 7, 2004, CSJJ is in the advanced stages of negotiations with a European Biotech Retractable Syringe company. This company markets retractable syringes which are FDA and NHS approved. Currently they are marketing 1 mL, 3 mL and 5 mL retractable syringes. The companies' distinct advantage over its many competitors is that it has reached the stage of having a patented and multi-licensed product selling in many markets and a production capability of 100 million units. The company has plans to increase its manufacturing capabilities in order to meet the high level of anticipated global demand for its products. As compared to its competitors, these units can be developed at a very low unit cost. These low prices are then passed off to their clients and help provide a distinct advantage to the biotech company.
The European Biotech company which is being considered for acquisition has already acquired the rights to successfully manufacture, sell and distribute syringes as well as disposable devices. These disposable devices allow for safely storing and disposing sharp needles during a surgical procedure.
In addition to their product line, this biotech company has assembled an impressive list of highly qualified individuals. These parties are working towards a goal of implementing a strategic business plan to secure quick market penetration of their products in major domestic and internationals markets. The global market the company is targeting is worth $7 billion per year. The World Health Organization (WHO) is keen to adopt a "one use needle." This needle is designed to save the one million plus lives lost each year through infections (principally hepatitis and AIDS). According to research firm Theta Reports, "The market size for safety sharps and medical devices has grown from 780 million in 2001 to an estimated $1.6 billion by 2005."
For more information, please contact Investor Relations at (973) 351-3868 or visit the Company website at www.coastalholdings.com.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.