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17.08.2009
Salugen (SYMBOL: SQZ.F) on Target to Achieve $3M 2009 Revenue Forecast
Salugen (SYMBOL: SQZ.F) on Target to Achieve $3M 2009 Revenue Forecast
Salugen announces that July and August revenues are on target to meet annual forecast of $3M in revenue for 2009
ZURICH, SWITZERLAND and SAN DIEGO, CA USA – August 17, 2009 – Salugen® (SYMBOL: SQZ.F), a publicly-traded international life sciences company, announces today that it is on target to achieve its 2009 revenue forecast of $3 million USD based upon July 2009 actual revenues and its pipeline for August and September.
At $3 million USD in 2009, the Company will have record high revenues. Over the next twelve months, the Company’s revenue run rate will be in excess of $6 million USD. With the recent acquisition of the CraniYums consumer functional candy product line building upon its prescription HAVEOS product in physician offices, Salugen addresses a growing $18 billion market in the USA with its clinically-proven anti-craving products in both medical and consumer markets.*
The following initiatives contribute to the Company’s revenue projections:
• Launch of its HAVEOS Anti-Craving* genetic testing and prescription medical nutrition program with a sales force in the USA;
• Third-party administrators and insurance companies agreeing to reimburse for Salugen’s genetic testing and medical nutrition program, and,
• Expansion of its CraniYums consumer product line into retail locations, starting in Spokane, WA with product orders, sales and events at Huckleberry’s, Mothers Cubbard, Pilgrims, and other local retail locations in western Washington state
About Salugen AG
Salugen™ is a life sciences company offering nutritional ingredients and gene testing to help reduce excessive cravings involved in smoking, weight problems, and alcohol and drug abuse. Salugen has a patent-protected, clinically proven nutritional formulation to reduce stress and cravings, as well as patent-protected gene tests to help identify these persons and customize their treatment.* Simply, Salugen’s goal is to reduce or eliminate the illness, costs, and deaths associated with these preventable disorders. For additional information about the company, please visit http://www.salugen.com.
Investor Relations Information Contact:
Petjo Noack, MA and Louis Philippe Antunes
Sherbrooke Equity Inc.
Seefeldstrasse 45
8032 Zürich
Tel.: 41 (0) 43 443 70 70
Fax.: 41 (0) 43 443 70 77
Web: www.sherbrookequity.com
Email: info@sherbrookeequity.com
Company Information Contact: Salugen AG, 877-258-4360, info@salugen.com, http://www.salugen.com .
* These statements have not been evaluated by the U.S. Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease
Forward Looking Statements
Certain statements in this press release are forward-looking. These forward-looking statements include references to the use of our laboratory tests and nutritional products. These forward-looking statements are subject to risks and uncertainties and other factors, which may cause actual results to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that physicians may not use the testing or products correctly; risks and uncertainties relating to the performance of our products; the growth in revenues; the size, timing and success or failure of any clinical trials; whether larger confirmatory clinical studies will confirm the results of initial studies; our ability to establish reliable, high-volume operations at commercially reasonable costs; expected reliance on physicians selling our products for a majority of our revenues; the annual renewal of certain customer agreements; actual market acceptance of our products and adoption of our technological approach and products; our estimate of the size of our markets; our estimates of the levels of demand for our products; the impact of competition; whether payers will authorize reimbursement for our products and services and the amount of such reimbursement that may be allowed; whether the FDA or any other agency will decide to further regulate our products or services; whether actions by the FDA, FTC or any other state regulatory body will restrict our ability to commercialize our products; whether we will encounter problems or delays in automating our processes; the ultimate validity and enforceability of our patent applications and patents; the possible infringement of the intellectual property of others; whether licenses to third party technology will be available; whether we are able to build brand loyalty and expand revenues; and whether we will be able to raise sufficient capital in the future, if required. We do not undertake, and specifically disclaim any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
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Salugen announces that July and August revenues are on target to meet annual forecast of $3M in revenue for 2009
ZURICH, SWITZERLAND and SAN DIEGO, CA USA – August 17, 2009 – Salugen® (SYMBOL: SQZ.F), a publicly-traded international life sciences company, announces today that it is on target to achieve its 2009 revenue forecast of $3 million USD based upon July 2009 actual revenues and its pipeline for August and September.
At $3 million USD in 2009, the Company will have record high revenues. Over the next twelve months, the Company’s revenue run rate will be in excess of $6 million USD. With the recent acquisition of the CraniYums consumer functional candy product line building upon its prescription HAVEOS product in physician offices, Salugen addresses a growing $18 billion market in the USA with its clinically-proven anti-craving products in both medical and consumer markets.*
The following initiatives contribute to the Company’s revenue projections:
• Launch of its HAVEOS Anti-Craving* genetic testing and prescription medical nutrition program with a sales force in the USA;
• Third-party administrators and insurance companies agreeing to reimburse for Salugen’s genetic testing and medical nutrition program, and,
• Expansion of its CraniYums consumer product line into retail locations, starting in Spokane, WA with product orders, sales and events at Huckleberry’s, Mothers Cubbard, Pilgrims, and other local retail locations in western Washington state
About Salugen AG
Salugen™ is a life sciences company offering nutritional ingredients and gene testing to help reduce excessive cravings involved in smoking, weight problems, and alcohol and drug abuse. Salugen has a patent-protected, clinically proven nutritional formulation to reduce stress and cravings, as well as patent-protected gene tests to help identify these persons and customize their treatment.* Simply, Salugen’s goal is to reduce or eliminate the illness, costs, and deaths associated with these preventable disorders. For additional information about the company, please visit http://www.salugen.com.
Investor Relations Information Contact:
Petjo Noack, MA and Louis Philippe Antunes
Sherbrooke Equity Inc.
Seefeldstrasse 45
8032 Zürich
Tel.: 41 (0) 43 443 70 70
Fax.: 41 (0) 43 443 70 77
Web: www.sherbrookequity.com
Email: info@sherbrookeequity.com
Company Information Contact: Salugen AG, 877-258-4360, info@salugen.com, http://www.salugen.com .
* These statements have not been evaluated by the U.S. Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease
Forward Looking Statements
Certain statements in this press release are forward-looking. These forward-looking statements include references to the use of our laboratory tests and nutritional products. These forward-looking statements are subject to risks and uncertainties and other factors, which may cause actual results to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to: the risk that physicians may not use the testing or products correctly; risks and uncertainties relating to the performance of our products; the growth in revenues; the size, timing and success or failure of any clinical trials; whether larger confirmatory clinical studies will confirm the results of initial studies; our ability to establish reliable, high-volume operations at commercially reasonable costs; expected reliance on physicians selling our products for a majority of our revenues; the annual renewal of certain customer agreements; actual market acceptance of our products and adoption of our technological approach and products; our estimate of the size of our markets; our estimates of the levels of demand for our products; the impact of competition; whether payers will authorize reimbursement for our products and services and the amount of such reimbursement that may be allowed; whether the FDA or any other agency will decide to further regulate our products or services; whether actions by the FDA, FTC or any other state regulatory body will restrict our ability to commercialize our products; whether we will encounter problems or delays in automating our processes; the ultimate validity and enforceability of our patent applications and patents; the possible infringement of the intellectual property of others; whether licenses to third party technology will be available; whether we are able to build brand loyalty and expand revenues; and whether we will be able to raise sufficient capital in the future, if required. We do not undertake, and specifically disclaim any obligation, to revise any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=CH0027529517
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.