WORCESTER, Mass., Jan. 27, 2009 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced its participation in the 2009 Arab Health Congress (http://www.arabhealthonline.com/congress/index.html) taking place January 26 - 29 at the Dubai International Convention & Exhibition Centre. Generex is participating in the congress through its Middle Eastern branch office, Generex MENA (Middle East and Northern Africa), which received a Commercial License from the Government of Dubai, United Arab Emirates in 2008 and opened an office in Dubai Healthcare City.
The Arab Health exhibition and congress is the region's premier event for the Middle East, bringing healthcare manufacturers, wholesalers, dealers and distributors together with some of the most important and influential decision-makers in the Arab world. Established over three decades ago, the exhibition is generally viewed as a "must attend" global event in the healthcare calendar and offers an ideal environment for companies to showcase their products in one of the fastest growing and most lucrative healthcare markets in the world.
The 2008 edition of Arab Health showcased products and services by more than 2,200 exhibitors representing over 65 countries and attracting more than 45,000 participating healthcare professionals from all over the world. Arab Health also features the world's largest and most comprehensive conferences programme - Arab Health Congress. The 2008 Congress featured 18 internationally accredited conferences, addressed by 400 eminent and internationally acclaimed speakers and hosted more than 5,500 delegates and conference attendees.
The Arab Health exhibition delivers to exhibitors the right balance between dealers and distributors, senior decision makers and end users. Arab Health is the business destination of choice for the Middle East Market estimated to be close to $100 billion per year. Due to the huge increase in the expatriate population, it is also one of the fastest growing regions with an estimated annual growth of 16%.
"It is important that Generex focuses at this time on emerging markets," said Bill Abajian, Sr. Executive Advisor, Global Business Development and Licensing for the Company. "The Generex MENA office is responsible for over 20 countries and distributors of top quality who have already begun commercializing our OTC product line, and out of those countries, eight are actively pursuing regulatory approval for Generex Oral-lyn, the Company's proprietary oral insulin spray product, and have filed the dossier with their respective regulatory authorities. This has been a cumulative effort of the strong team we have put together at Generex MENA."
About Generex Biotechnology Corporation
Generex is engaged in the research, development and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist device. The Company's flagship product, oral insulin (Generex Oral-lyn), which is available for sale in India and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. For more information, visit the Generex website at http://www.generex.com.
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Safe Harbor Statement
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects," or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex cannot be sure when or if it will be permitted by regulatory agencies to undertake additional clinical trials or to commence any particular phase of clinical trials. Because of this, statements regarding the expected timing of clinical trials cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.