LOS ANGELES, Feb 2, 2005 (BUSINESS WIRE) -- Health Sciences Group, Inc. (HESG), provider of innovative nutritional products derived from natural sources, announced today that it has received a patent for its combination over-the-counter (OTC) pharmaceutical-nutraceutical cough relief formulation. This is the fourth patented added to the Company's growing portfolio of innovative CoCare(TM) products.
"We are very pleased to see the expansion of our CoCare(TM) portfolio of patents," said Fred E. Tannous, Health Sciences Group Co-Chairman and CEO. "We expect the convenience and cost effectiveness, which can be realized through the combination of commonly used OTC pharmaceuticals with natural remedies, to represent a compelling value proposition for the consumer. This can translate into significant sales potential for the Company."
The CoCare(TM) cough relief patent represents an improved medicinal composition which includes an effective amount of a pharmaceutical ingredient, such as cough suppressant or expectorant (i.e., Robitussin DM(R)) combined with effective nutraceutical ingredients that sedate the cough reflex, such as Elderberry, black cherry bark, or slippery elm in a pharmaceutically acceptable base. This combination provides the benefits of trusted OTC medicines and the positive health benefits offered by natural remedies.
"We believe this latest addition not only increases the value of our patent portfolio, but also strengthens the prospect of generating significant supplemental revenues through joint ventures or licensing opportunities," commented Bill Glaser, Co-Chairman and President of Health Sciences Group. "Furthermore, we view this portfolio of intellectual property as a strategic asset which can potentially be sold or spun off to yield added shareholder value."
To date, other patents previously issued to Health Sciences Group include compositions and methods for the treatment for the symptoms of the cold & flu, nasal decongestion and an antihistamine. The Company has applied for patents on other unique combinations of OTC pharmaceutical and nutraceutical ingredients.
About Health Sciences Group, Inc.
Health Sciences Group identifies, develops and commercializes innovative nutritional products derived from natural sources to provide consumers and medical professionals with preventative healthcare alternatives. The company markets its own line of proprietary products based on novel technologies with clinically-supported, FDA-approved ingredients under its Swiss Research(TM) and Swiss Diet(TM) brand names. For more information, visit www.HSciences.com, www.SwissDiet.com, and www.Shugr.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.