WORCESTER, Mass., June 17, 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, provided an update on the status of the retail broker network for the Company's line of confectionary products available over-the-counter in Canada and the USA.
In Canada, Generex has been engaged with Pinnacle Pharmaceutics Ltd., a leading manufacturer's agent in Canada specializing in sales and marketing expertise for over-the-counter products, for over two years. Pinnacle Pharmaceutics primarily handles drugstore accounts such as Shoppers Drugmart, Katz Group, Wal-Mart Canada, Loblaws Companies, Zellers, and several smaller drugstore chains and wholesalers.
In the USA, Generex continues to grow its national broker network with leading regional brokers specializing in the food, drug, mass, and convenience store class of trades. The brokers and their territory coverage are as follows:
-- Southern Sales and Marketing, Inc. specializes in the convenience
store and grocery class of trade covering North Carolina, South
Carolina, Virginia, Tennessee, Georgia, Alabama and Florida;
-- Sun Belt Marketing specializes in the convenience store, grocery,
and drugstore class of trade covering Texas;
-- Custom Sales & Marketing, Inc. specializes in all class of trades
covering Illinois, Indiana, Ohio and Michigan;
-- S&L Brokerage specializes in all classes of trade covering
Washington, Oregon and Alaska;
-- L&S Sales Brokerage specializes in all classes of trade covering
California and Nevada;
-- B.L.V. Marketing, Inc. specializes in all classes of trade
covering Wisconsin; and
-- Align Sales Solutions, LLC. specializes in all classes of trade
covering New Mexico, Oklahoma, Arkansas, Louisiana and
Mississippi.
The company is also in discussions with leading regional brokerage firms that will cover the northeast and leading drugstore, grocery and convenience store accounts in the USA.
"We are excited about the engagement of each of these retail brokerage firms," said Bill Abajian, the Company's Sr. Executive Advisor for Global Licensing & Business Development. "This network allows the Company to reach a concentrated retail customer base in each of the regions nationwide and has the expertise to bring the attention to this product pipeline."
The Company's current confectionary product portfolio consists of: Glucose RapidSpray(tm) for diabetes in both human and animal health; BaBOOM!(tm) Energy Spray for the sport and energy category; and Crave-NX(tm) Diet Aid Spray for the diet category.
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(tm) device. The Company's flagship product, oral insulin (Generex Oral-lyn(tm)), 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.
The Generex Biotechnology Corp. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3831
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.