HENDERSON, Nev., June 03, 2024 (GLOBE NEWSWIRE) -- Nika Pharmaceuticals, Inc. (OTCMKTS: NIKA) introduces its plans to develop the company into a sustainable business project that will consistently grow, bring good profits and provide dividends to its shareholders.
To achieve its goals, NIKA will work towards the construction of three pharmaceutical facilities:
- A factory for the production of drugs in injection form
- A factory for the production of drugs in tablet form
- A factory for the production of dietary supplements
On May 9, 2024, NIKA became the beneficial owner of a production building valued at $2,045,209 that was previously purchased and renovated by CEO Dimitar Savov. There, the factory for drugs in injection form is under construction according to GMP standards and will be finished by December 31, 2024. NIKA’s subsidiary, Nika Europe, Ltd., has signed a Supply Agreement and put a down payment for a brand-new vial production line equipment. The full capacity of the production facility will be 18,000 vials per hour, which will result in a maximum yearly production capacity of 3,500,000 sets of ITV-11. The retail price of one set of ITV-1 will be 3,300 EUR (around $3,500), from which there will be a net profit of around $1,600, with Nika receiving $1,120 in net profit, with the remaining $480 going to Immunotech Laboratories BG. On August 1, 2022, NIKA signed a Joint Business Agreement with Immunotech Laboratories BG, which holds the exclusive rights for production and distribution of ITV-1 and has completed a clinical trial on AIDS patients showcasing great treatment results (See Final Report). The agreement’s goal is to combine efforts to realize the registration, production and distribution of medicinal products based on the Inactivated Pepsin Fraction (“IPF”). NIKA estimates to initially start at a 30% production capacity in 2025, which should generate a net profit of around 1.176 billion USD by the end of 2025, whilst working towards a gradual production rate increase of up to 90% of the maximum capacity by the end of 2026.
NIKA currently has signed distribution agreements with strategic partners who have been provided with exclusive distribution rights for the ITV-1 treatment for AIDS on the territories of the UAE, Ukraine, Iraq, Jordan, and Syria. There are ongoing negotiations for exclusive distribution rights for additional countries including Nigeria, as NIKA strives to choose the most suitable partners. “Thanks to my personal contacts in Europe, Asia, and Africa, and Bulgaria’s strategic location, Nika Pharmaceuticals has a great prospect of choice of strategic partners,” stated Savov. Bulgaria’s EU membership also provides NIKA with a direct access to a 450 million market. “Since ITV-1 has shown great treatment results and is compatible with other currently used drugs for the treatment of AIDS, ITV-1 will serve as a great supplementary tool in the battle against AIDS. Due to its wide-spectrum antiretroviral action, ITV-1 can also be useful in the treatment of other viral-based diseases,” continued Savov.
Given that more than 50% of the drugs worldwide are generic, NIKA purchased the technologies and full registration dossiers for the production of generic form of VINPOCETINE 10mg, MENTHYL VALERATE 60mg, METAMIZOLE SODIUM 500mg (See April 15 PR). NIKA is exploring options for suitable buildings for a factory for production of drugs in tablet form and will announce specific details once a final decision is made. NIKA has since purchased a full dossier for GALANTAMINE HYDROBROMIDE 5mg, used in the treatment of forms of dementia, and continues to explore other technologies for the production of generic drugs. The company strives for its portfolio to include treatments for the most common and significant diseases.
“We are negotiating to acquire a half-built factory for dietary supplements, as NIKA now has 11 dietary supplements in its portfolio, six of which, namely Physiolong, Carotilen, Hypocholestin, Biodetoxin, Anthocylen C and Silymaron, have shown useful properties and are already on the market in Bulgaria, whilst we are working to launch wider distribution in the entire European Union, Asia, and Africa,” explained Savov.
NIKA is preparing a comprehensive business plan, which will include detailed information and estimates for the company’s development in the next five years. “I believe that this informal business strategy will be a good way for investors to understand the mindset of the management of our company, as every shareholder, no matter the size of their ownership, is equally valuable to us. I want to thank our shareholders once more for giving their trust in our company,” concluded Savov.
About Nika Pharmaceuticals, Inc.
Nika Pharmaceuticals, Inc. (NIKA) is a pharmaceutical company, specializing in the treatment of HIV/AIDS, Hepatitis B and C, Rheumatoid Arthritis, Cancer, Diabetes, and all diseases, for which strengthened cell immunity is of vital importance. NIKA’s intellectual property includes six drugs in injection form – two of which have successfully undergone clinical trials with good treatment results – four drugs in tablet form, and eleven dietary supplements. NIKA’s goal is to not only achieve corporate profits, but to provide better and easier access to life-saving medicinal drugs and useful dietary supplements. Find more on www.nikapharmaceuticals.com.
Forward-looking Statement:
This press release contains forward-looking statements. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.” These forward-looking statements generally are identified by the words “believes,” “expects,” “anticipates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain.
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1 Assuming a 10-hour work day with 26 active working days on average per month, the factory will produce 56,000,000 vials per year at maximum capacity, which equals 3,500,000 sets containing 16 vials each.
