HOUSTON, Aug. 9, 2005 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) is pleased to announce that it is in the advanced stages of negotiations to acquire an interest in an India-based pharmaceutical firm. The firm is publicly traded and is currently listed on The Stock Exchange, Mumbai (BSE). The firm has experienced strong annual growth in its revenue and profit over the past couple of years, which is due in part to its focus on the rapidly expanding therapeutic segments of the industry such as diabetes. The firm is in the process of expanding its product portfolio and operations overseas in order to consolidate its position as one of the major India-based players in the global pharmaceutical industry.
CEO Andrea Cortellazzi stated: "We are looking forward to finalizing this favorable acquisition, which is the result of over 2 months of negotiations. We are excited about the firm's growth prospects as it benefits from an expanding, $550 billion global pharmaceutical industry and a strong economy in India that is growing at about 7% a year." Further details on this acquisition will be made available shortly upon signing of the formal contract.
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699.
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.