LOS ANGELES--(BUSINESS WIRE)--Targeted Medical Pharma (OTCQB: TRGM), today announced the completion of an agreement between Analytical Testing Laboratories (ATL), a Lebanon based company that specializes in drug testing services and inborn errors of metabolism, for the exclusive distribution of the company’s amino acid based products to physicians and pharmacies throughout the Middle East.
The Agreement provides ATL with a limited exclusive license for the marketing and sales of certain products in twenty countries in the region. The Agreement includes a licensing fee, an annual minimum product purchase order and certain performance benchmarks which include meeting product registration and regulatory approvals as well as sales volume in a given country.
“We are excited to introduce our products to the Middle East, and look forward to working with ATL to rapidly scale the growth of their distribution in the region,” said William Shell, M.D. Chief Executive Officer and Chief Science Officer at Targeted Medical Pharma. “Expanding international operations is a pivotal part of our growth strategy and will provide additional capital for increased domestic sales.”
About Analytical Testing Laboratories
Analytical Testing Laboratories (ATL) has been in operation since 1996. ATL is licensed by the Lebanese Ministry of Health and is directed by Dr. Amer Sakr. ATL is a specialized laboratory focusing on multidisciplinary analysis in the fields of Medical Diagnostics, Genetic Metabolic Diseases, Toxicology, Pharmaceutical Drug Testing Services, Food Chemistry & recently in Molecular Biology DNA & GMO Testing. ATL has been assigned by the Lebanese Internal Security Forces as the laboratory of choice for Forensic Toxicology & DNA Testing purposes. Also, the Ministry of Health has accredited ATL to do quality control testing on drugs, pharmaceutical & cosmetic products.
About Targeted Medical Pharma, Inc.
Targeted Medical Pharma, Inc. is a Los Angeles-based biotechnology company that develops medical foods for the treatment of chronic disease, including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders. The company also develops a line of dietary supplements designed to support health and wellness. The company manufactures 10 proprietary medical foods, and recently launched its first dietary supplement, Clearwayz™. The products are sold directly to physicians and pharmacies in the U.S. The company also is developing nutrient-based systems for oral stimulation of progenitor stem cells that differentiate into neurons, red blood cells, pituitary hormones including IGF-I.
Forward Looking Statement
This press release may contain forward-looking statements related to Targeted Medical Pharma’s business strategy, outlook, objectives, plans, intentions or goals. The words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Actual results could differ materially. Targeted Medical Pharma expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.