Expanding Suite of CoCare Products Expected to Address Multibillion Dollar Healthcare Market
LOS ANGELES, Sep 30, 2004 (BUSINESS WIRE) -- Health Sciences Group, Inc. (HESG), an integrated provider of innovative, science-based products and ingredients to customers in the nutrition, skin care, and food and beverage industries, announced today that it has received a patent for its combination over-the-counter (OTC) pharmaceutical-nutraceutical cold & flu formulation. This patent is the latest addition to the Company's growing portfolio of innovative CoCare(TM) products.
"We are delighted to have received our third CoCare(TM) patent," said Fred E. Tannous, Health Sciences Group Co-Chairman and CEO. "We believe our expanding suite of patented CoCare(TM) formulations, including this latest treatment for cold & flu, represents significant market potential for Health Sciences Group in the multibillion dollar healthcare market. Since each CoCare(TM) formulation features the benefits of a well-known OTC pharmaceutical ingredient in combination with safe and effective nutraceuticals, we expect CoCare(TM) products to resonate with an established and knowledgeable customer base which can lead to a rapid market penetration and significant sales growth."
The CoCare(TM) cold & flu patent represents an improved medicinal composition which includes an effective pain relieving and anti-inflammatory pharmaceutical ingredient, such as aspirin (i.e., Bayer(R)), acetaminophen (i.e., Tylenol(R)), or ibuprofen (i.e., Advil(R)) combined with effective nutraceutical ingredients, such as green tea, Astragalus root, and elderberry in a pharmaceutically acceptable base. This combination provides the benefits of trusted OTC medicines and the positive health benefits offered by nutritional supplements.
The Company has applied for a series of patents on unique combinations of OTC pharmaceutical and nutraceutical ingredients and is in the process of seeking a licensing arrangement with a strategic partner for production, marketing and distribution of its CoCare(TM) product line. Other patents pending include compositions and methods for the treatment of acid reflux, migraine headaches and everyday pain relief.
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 three diversified divisions consist of nutraceuticals manufacturing, specialty pharmaceutical compounding, and proprietary drug delivery technologies. For more information, visit www.HSciences.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.
Health Sciences Group, Inc.