HENDERSON, Nev.--(BUSINESS WIRE)--Substance abuse numbers from the United States and Canada demonstrate Naltrexone has strong growth potential, strengthening Rainbow Coral Corp.’s (RBCC) plans to aggressively pursue additional partners and distribution channels to get the anti-addiction drug into as many markets as possible.
“Drug and alcohol addiction afflicts millions of North Americans struggling to free themselves from this terrible disease,” said RBCC CEO Kimberly Palmer. “The stats don’t paint a pretty picture regarding addiction, however they do represent a window for companies like ours to deliver treatments that will change lives for the better. That’s rewarding from a personal standpoint, and offers an opportunity to build a revenue stream to reward our investors on the business side.”
Wealthy and developed countries like the U.S. and Canada suffer the world’s highest rates of substance abuse. For example, 9.4 percent of Americans have used illicit drugs in the past month, according to a 2013 survey, up from 8.3 percent in 2002. Approximately 14 million Americans, 7.4% of the population, meet the diagnostic criteria for alcoholism. Meanwhile, about 11 percent of Canadians are afflicted with alcohol or drug addiction.
The costs of dealing with substance abuse are staggering, according to published reports. The disease costs U.S. taxpayers USD 700 billion per year for treatment services, employing law enforcement and related equipment. Canadian taxpayers face a C$22.8 billion tab each year to combat and treat substance abuse.
RBCC has been active in recent months and is nearing agreements with a Canadian medical group that utilizes Naltrexone to treat substance abuse and with another company to distribute Naltrexone in Canada.
For more information on RBCC’s initiatives, please visit www.rainbowbiosciences.com.
About Rainbow Biosciences
Rainbow Biosciences, LLC, is a wholly owned subsidiary of Rainbow Coral Corp. (RBCC). The Company continually seeks out new partnerships with biotechnology developers to deliver profitable new medical technologies and innovations. For more information on our growth-oriented business initiatives, please visit www.RainbowBioSciences.com. For investment information and performance data on the Company, please visit www.RainbowBioSciences.com/investors.html.
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