BOULDER, Colo. and PROVO, Utah, Oct. 3, 2001 (PRIMEZONE) -- Hauser, Inc. (OTCBB:HAUS) announced today that it has signed an exclusive supply agreement with Pharmanex, the nutritional products division of Nu Skin Enterprises, Inc. (NYSE:NUS).
Under terms of the agreement, Hauser will supply Policor(tm), its patented policosanol product to Pharmanex for use in the company's new and improved Cholestin(r), a top-selling dietary supplement effective in maintaining existing normal cholesterol levels. Policor(tm), an all-natural ingredient, is extracted from the wax of honeybees. Pharmanex also includes Policor(tm) in its CardioFormula, marketed toward individuals interested in supporting overall cardiovascular health. The agreement provides Pharmanex exclusive rights to the ingredient within the multi-level marketing channel.
Kenneth Cleveland, Hauser president and chief executive officer, said, "This transaction marks Hauser's entry in the $2 billion market for dietary supplements in the cholesterol health category. We look forward to partnering with Pharmanex, a leading and established marketer in this area. We believe that the new Cholestin, containing Hauser's Policor(tm), will be an excellent alternative for those seeking to maintain healthy cholesterol levels."
"Securing this exclusive arrangement with Hauser illustrates our science-based commitment to include innovative and well-researched ingredients in our products," said Joe Chang, president of Pharmanex. "Pharmanex is the first to bring Hauser's policosanol to market in the United States; we feel that the ingredient provides a solid benefit to our customers while also providing a compelling story for our independent representatives."
Hauser, a Customer Connected(sm) company headquartered in Boulder, Colo., is a leading supplier of herbal extracts and nutritional supplements. The company also provides interdisciplinary laboratory testing services, chemical engineering services, and contract research and development. The company's products and services are principally marketed to pharmaceutical, dietary supplement and food ingredient businesses. Hauser's business units include: Botanicals International Extracts, Hauser Laboratories, Shuster Laboratories and ZetaPharm.
Pharmanex, a Nu Skin Enterprises' company, is a leader in the research and development of phyto-pharmaceutical and nutritional products. The company has a portfolio of multivitamin/mineral supplements, natural health products, standardized botanicals and specialized health systems. Based in Provo, Utah, Pharmanex products are sold direct to the consumer through the Internet, a network of independent representatives, as well as a number of independent pharmacies. For more information, log onto the Pharmanex Website at www.pharmanex.com.
Certain oral and written statements of management of the Companies included in this Press Release and elsewhere, may contain forward-looking statements within the meaning of Section 27A of the Securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. These statements include the plans and objectives of management for future operations. The forward-looking statements included herein and elsewhere are based on current expectations that involve judgments that are difficult or impossible to predict accurately and many of which are beyond the control of the Companies. Although the Companies believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements, the inclusion of such information should not be regarded as a representation by the Companies or any other person that the objectives and plans of the Companies will be achieved.