WORCESTER, Mass., Dec. 17, 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, has recently initiated shipments and generated sales of its confectionary product line, including Glucose RapidSpray(TM) (designed as a first-line therapy for low blood sugar), Crave-NX(TM) 7-Day Diet Aid Spray (designed to assist in the control of weight gain and curbing appetite), and BaBoom! Energy Spray, to The Netherlands, Australia, and New Zealand. The Company has established distribution arrangements in each of these jurisdictions to carry the products and ensure proper support and maintenance of marketing, sales, and continued awareness of the Company's product line in retail markets. The products were shipped through the Generex MENA logistics and distribution center located in Dubai, United Arab Emirates.
While the principal focus of Generex MENA is the pursuit of regulatory approvals of the Company's flagship product, Generex Oral-lyn(TM), its proprietary buccal insulin spray product, its sales and marketing arm continues to expand the market for the Company's confectionary product line.
"Generex MENA has been busy penetrating the global pharmaceutical landscape," said Bill Abajian, the Company's Sr. Executive Advisor for Global Business Development. "We are excited by our achievements thus far and continue to focus on regulatory and sales milestones from the branch office." Leo Ohanian, Generex MENA's General Manager, said: "Through implementation of a strategic distribution network, our expansion has been steadfast. Growth is the key to our success. Our expanded vision and forward thinking management practices have paved the way for our international presence."
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(TM) 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.
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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.