WORCESTER, Mass., Dec. 1, 2009 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced that the Company's proprietary Crave-NX(TM) 7-Day Diet Aid Spray will soon be available in Duane Reade's 256 drugstores throughout New York City.
Crave-NX(TM) 7-Day Diet Aid Spray is a great tasting orange-flavored formulation, sprayed and administered into the mouth, scientifically formulated to quickly curb cravings throughout the day, saving valuable calories. The product has been clinically-tested, has 20 servings per bottle, with only two calories per serving and zero fat. Crave-NX(TM) is a brand new diet aid that can help "Spray the Crave Away(TM)" while saving calories by controlling the user's sweet tooth and junk food cravings throughout the day, which can save up to 1,000 calories per day. Over a one-year period, saving just 250 calories per day adds up to over 90,000 calories -- or 26 pounds. Crave-NX(TM) is a product that is positioned to complement other diet products and/or programs, which provide incremental sales for retailers and a new diet add-on solution for the consumer.
"We are excited that Crave-NX(TM) is now being sold in Duane Reade, the largest drugstore in New York City," said Rose Perri, Generex's Chief Operating Officer. "We are backing the Crave-NX(TM) brand with an aggressive marketing campaign designed to ensure customer demand, awareness and repeat purchases. With 256 locations in New York City, one of the largest and most diverse consumer populations in the country, Duane Reade is an excellent place for Generex to begin is distribution of CraveNX."
Recently, the Company implemented a new media campaign starting with radio ads for Crave-NX(TM) 7-Day Diet Spray (www.Crave-Nx.com). The radio ad (http://www.barkerdzp.com/cravenx/) has been launched in targeted markets including New York, New Jersey, Houston, and Dallas with television advertising in major markets to follow.
According to Marketdata Enterprises, Inc. (www.marketdataenterprises.com), a leading market research publisher of service industry studies, the total U.S. weight loss market generated sales of $59 billion in 2007. It is estimated that 72 million people are dieters -- about 70% of whom try to lose weight without professional help.
About Generex Biotechnology Corporation
Generex is engaged in the research, development and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist device. The Company's flagship product, oral insulin (Generex Oral-lyn(TM)), which is available for sale in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutics for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
The Generex Biotechnology Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3831
About Duane Reade
Founded in 1960, Duane Reade is the largest drug store chain in New York City. In keeping with company's brand vision of New York Living Made Easy, Duane Reade provides New Yorkers with prescriptions, health products and services, beauty products and services, and convenience items for daily life in the city ... everything for "How I Feel", "How I Look", and "What I Need Now". As of October 1, 2009, the Company operates 256 stores.
Safe Harbor Statement
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects," or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex cannot be sure when or if it will be permitted by regulatory agencies to undertake additional clinical trials or to commence any particular phase of clinical trials. Because of this, statements regarding the expected timing of clinical trials cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.