SOURCE: Axxess Pharma, Inc.
June 24, 2010 07:30 ET
Axxess Pharma, Inc. Signs Letter of Intent (LOI) to Acquire Pharmaceutical Manufacturer and Add Over $2 Million in Annual Revenue to Axxess Pharma's Financials
ONTARIO, CA--(Marketwire - June 24, 2010) - Axxess Pharma, Inc. (PINKSHEETS: AXXE), a pharmaceutical company specializing in the marketing and distribution of both prescription and non-prescription medical products in a multi-billion dollar industry, is pleased to announce they have signed a Letter of Intent (LOI) to acquire a Canadian based pharmaceutical manufacturer. The acquisition will add over $2 million in annual revenues to Axxess Pharma, Inc.'s financials.
The Company's facility is roughly 22,000 square feet and manufactures pharmaceuticals, neutroceuticals and dermotologicals. Axxess Pharma will continue the distribution of its own line of pharmaceuticals from its Markham location.
"This is an exciting time for our company. We anticipate completing the acquisition of the pharmaceutical manufacturer in the very near future. The acquisition will add over $2 million in annual sales to our financials, provide us with a large manufacturing facility and new product lines," stated Gerald Sequeira, President/CEO. "This is one more sign that we are focused on continuing to expand our operations across Canada and gain market share. We will have lots of information for our shareholders in the upcoming weeks. This information will define where we are and what is new and happening with Axxess Pharma."
For more information, please contact Investor Relations at (973) 351-3868 or visit the company website directly: http://www.axxesspharma.com.
About Axxess Pharma, Inc.:
Axxess Pharma, Inc. is a specialty pharmaceutical company that focuses on the marketing of dermatological, therapeutic nutritionals, pain management and diagnostic products in Canada and abroad since 1997. Axxess owns 22 established pharmaceutical prescription products that have proven sales in Canada and internationally. The company has an experienced management team and field sales force to market products nationally to hospitals and retail pharmacies as well as specialized practice areas including Dermatology and Nephrology, Neurology and Urology.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.