LOS ANGELES--Oct. 3, 2003--
Launches its CoCare Line to Enhance Growing Product Portfolio
Health Sciences Group, Inc. (OTCBB: HESG), an integrated provider of innovative products and services to the nutraceutical, pharmaceutical, and cosmeceutical industries announced that its BioSelect Innovations division has applied for a series of patents on unique non-prescription combinations of over-the-counter (OTC) pharmaceutical and nutraceutical products. BioSelect is seeking intellectual property protection for six products comprising its new CoCare(TM) product line, including formulations to treat:
-- Nasal and sinus congestion;
-- Acid reflux;
-- Cough reflex;
-- Allergy and cold relief;
-- Pain relief, and
-- Symptoms of immune response, triggered by viruses, bacteria
"The growing interest in herbal remedies by physicians and consumers, and a steady flow of new research, underscores the benefits of a wide variety of natural products," said Fred E. Tannous, Health Sciences Group Co-chairman and Chief Executive Officer. "BioSelect's CoCare(TM) products will combine generic OTC pharmaceutical medications with complementary nutraceutical ingredients, providing more complete treatments for common ailments." BioSelect will seek to license the production and marketing of its CoCare(TM) product line to third parties.
"Many of the popular OTC products used to treat a wide range of ailments have potential side-effects," said Dr. Daniel Gelber, Director of Research & Development at BioSelect. "They can damage the liver and other vital organs. On the other hand, there are hundreds of herbs and botanical ingredients that can be used to complement OTC products by increasing their potency, broadening their effectiveness and protecting the body from otherwise harmful side-effects. The CoCare(TM) line is expected to bring these elements together in a commercially attractive fashion."
"Combining appropriate, recognized pharmaceutical and herbal ingredients, CoCare(TM) products will simplify the consumer's shopping experience," Bill Glaser, President and Co-chairman of Health Sciences Group, added. "Since each CoCare(TM) product will feature the health claims of a well-known OTC pharmaceutical ingredient, these combination products should benefit from an established customer base."
In developing the CoCare(TM) line, Health Sciences Group turned to the formulating expertise of its Quality Botanical Ingredients division, a cryogenic processor of 500 different herbs and botanicals.
About Health Sciences Group, Inc.
Health Sciences Group, Inc., is an integrated provider of innovative products and services in the nutraceutical, pharmaceutical, and cosmeceutical industries offering value-added ingredients, bioactive formulations, and proprietary technologies used in nutritional supplements, functional foods and beverages, and skin care products. Its BioSelect Innovations division develops and sells innovative, science-based products based on proprietary technologies in the areas of topical/transdermal drug delivery, cosmeceuticals, and integrative medicine to a global network of customers who manufacture and distribute compounded pharmaceuticals, functional foods, skin care products and cosmetics.
Its other divisions include Quality Botanical Ingredients (QBI) and XCEL Healthcare, Inc. QBI is a leading manufacturer, contract processor and supplier of bulk botanical materials and nutritional ingredients to the food, nutraceutical, pharmaceutical, cosmetic and pet food industries. QBI processes more than 500 herbs, dried fruits and vegetables, nutraceuticals and an extensive selection of concentrated herbal extracts, as well as standardized herbal extracts of guaranteed potency, in addition to various bioflavonoids, antioxidants and beehive products. In business for 20 years, QBI uses cryogenic (cold) processing at its New Jersey facility, and operates in accordance with voluntary food safety guidelines (called Good Manufacturing Practices) originally published by the U.S. Food & Drug Administration in 1997. XCEL Healthcare is a fully licensed, specialty compounding pharmacy delivering full service pharmacology solutions to customers with chronic ailments that require long-term therapy. For more information, visit www.HealthSciencesGroup.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, the independent authority of the special committee to act on the matters discussed, the successful negotiation of the potential acquisition and disposal of transactions described above, successful implementation of the company's business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission.