DOYLESTOWN, Pa.--(BUSINESS WIRE)--Feb. 11, 2003--
Quigley Pharma Formula Suggests Further Study For Possibly Related Medical Conditions
The Quigley Corporation (NASDAQ: QGLY) announced today that its wholly owned subsidiary, Quigley Pharma Inc., found that a naturally derived compound called QR 337, developed for improving the cosmetic appearance of dry skin conditions, showed promising results during a recent preliminary study.
Under the direction of Raymond E. Silk, M.D., F.A.C.S., Silk Clinic, Philadelphia, PA, a group of 23 volunteers with various dry skin conditions participated in a cosmetic study of this compound.
Dr. Silk stated, "Out of the 23 subjects in the study, 22 displayed an improvement in dry skin appearance. In addition, I observed indications of some improvement beyond basic skin appearance. These positive, preliminary results suggest that further study of this compound for dry skin and possibly related medical conditions is warranted."
Based upon these positive, preliminary results, The Quigley Corporation plans to submit an investigational new drug application (IND) to the federal Food and Drug Administration (FDA) to obtain permission to study and develop the compound as a potential prescription drug. A patent for this compound was previously assigned to The Quigley Corporation.
No claim is made that the compound discussed here is safe, effective, or approved by the FDA.
The mission of Quigley Pharma is the development of naturally derived prescription drugs, cosmeceuticals and dietary supplements. Research and Development will focus on the identification, isolation and direct use of active medicinal substances. One aspect of the research will focus on the combination of isolated active constituents and whole plant components. The search for new natural sources of medicinal substances will focus not only on world plants, fungi, and other natural substances, but an intense investigation into traditional medicinals and historic therapeutics.
The Quigley Corporation (NASDAQ: QGLY) is a leading developer and marketer of diversified health products including the Cold-Eeze(R) family of patented zinc gluconate glycine (ZIGG(tm)) lozenges, gums and sugar free tablets. Cold-Eeze is the only (ZIGG(tm)) lozenge proven in two double-blind studies to reduce the duration of the common cold from 7.6 to 4.4 days or by 42%. In addition to Over-The-Counter (OTC) products, the Company has formed Quigley Pharma Inc. (www.QuigleyPharma.com), a wholly owned ethical pharmaceutical subsidiary, to introduce a line of patented prescription drugs. The Quigley Corporation's customers include leading national wholesalers and distributors, as well as independent and chain food, drug and mass merchandise stores and pharmacies.
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risk, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statement. Factors that impact such forward-looking statements include, among others, changes in worldwide general economic conditions, changes in interest rates, government regulations, and worldwide competition.