REDMOND, Wash., Dec 12, 2003 -- SCOLR, Inc. (OTCBB:SCLL) announced today that a national retailer has placed its first order for two new products utilizing the Company's patented CDT(TM) platform. The nutritional health product formulations of 12-hour CDT Niacin and 12-hour CDT EsterC(R) will be sold under the chain's own private label. For this reason, the retailer declines to be publicly identified at this time.
The total U.S. market for Niacin is estimated to be in excess of $600 million and the total market for Vitamin C (of which EsterC is a segment) was estimated to be in excess of $500 million in 2002.
"Our customer wishes to move quickly and we can expect these products to be on the shelves by the end of February," said Daniel O. Wilds, President and CEO. "We have also received strong indications of interest from this same retailer for the new SCOLR formulations of CDT Glucosamine, CDT Vitamin C and CDT Joint Support and believe we will receive an order for these three products in Q1 '04."
Each of these new products will offer the unique benefits of SCOLR's patented CDT platform in controlled release tablet formulations. CDT benefits the consumer with the convenience of less frequent or once-daily dosage by controlling and extending the release of the active compound(s) in the body. By helping to alleviate the need of multiple daily dosing, CDT products can increase patient compliance while at the same time the retailer can be expected to experience increased sales due to fewer missed patient dosages.
"These two new products follow the successful introduction of the CDT glucosamine/chondroitin which is currently sold in over 6,000 retail stores across the country," Wilds continued. "We expect these new products to follow that path. As anticipated in our business plan, near-term revenues and royalties are being generated by nutraceutical applications of a growing number of CDT products while we continue to seek out and work with partners to bring the longer-term and more lucrative OTC and pharmaceutical products to market. Although our first OTC or pharmaceutical products would not be expected to be on the market until 2006, we can expect each one to generate significant earlier revenues in the form of contracted research fees, licensing fees, and progress/milestone payments," Wilds said.
Based in Redmond, Washington, SCOLR, Inc. is a biopharmaceutical company leveraging specialized knowledge, proprietary and patented products and technologies, such as the patented CDT(TM) Controlled Delivery Technology platform, to introduce distinctive and novel OTC products, prescription drugs and dietary supplements. SCOLR currently operates in two business segments -- drug delivery and nutraceuticals. Its CDT(TM) drug delivery platform provides distinctive products with tangible benefits for the consumer and competitive commercial advantages for licensees. Partnerships with pharmaceutical, OTC and natural products industry companies will enable SCOLR to co-develop new products and to add value and protection to existing product franchises. For more information on SCOLR, please call 1-800-548-3222 or visit http://www.SCOLR.com/.
Except for any historical information, the matters discussed in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve risks and uncertainties, including activities, events or developments that the company expects, believes or anticipates will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including the Company's ability to continue to successfully market and provide its products and services and maintain their effectiveness, the continuation of the arrangements with the Company's product development partners, the ability of the Company to meet its financial projections, and general economic conditions. Such statements are subject to a number of assumptions, risks and uncertainties. Readers are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update or revise forward-looking statements whether as a result of new information or otherwise.