Biomerica Announces Point of Care Product Distribution Agreement with a Multinational Pharmaceutical Company
IRVINE, Calif. , Aug. 16, 2017 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq:BMRA) announced today a distribution agreement to supply one of its point of care products to a multinational pharmaceutical company for distribution in Mexico.
This multinational pharmaceutical company generates over $1.4 billion in annual revenues and has over 11,000 employees worldwide. The specific terms of the distribution agreement were not disclosed and will remain confidential. This point of care product has already received approval from COFEPRIS (the Comisión Federal para la Protección contra Riesgos Sanitarios), which is Mexico’s equivalent of the U.S. Food & Drug Administration (FDA), thereby clearing it for immediate sale in Mexico.
“I am very pleased to announce this sales contract with a leading global pharmaceutical corporation,” said Mr. Zackary Irani, CEO of Biomerica. “This is a tremendous validation of our product by a large healthcare company and we hope to announce more distribution agreements with them or other partners down the road. Both companies are excited about the sales potential for this point of care product in the Mexican market.”
About Biomerica (Nasdaq: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians’ offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company’s products are designed to enhance the health and well being of people, while reducing total healthcare costs. Biomerica primarily focuses is on products for Diabetes, Gastrointestinal Disease and esoteric testing.
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, growth of business, favorable positions, expansion, expected orders, market capabilities, anticipated future revenues or production volume of the Company, success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company’s operating results due to its business model and expansion plans, downturns in international and or national economies, the Company’s ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company’s dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.
CONTACT: Contact: Zackary Irani Tel: 949-645-2111
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