REDMOND, Wash., Nov 5, 2003 -- SCOLR, Inc., a specialty oral drug delivery technology company, announced today that the Company has expanded the line of nutritional supplements incorporating its patented CDT(TM) (Controlled Delivery Technology) oral drug delivery platform with the introduction of six new products. Additional presentations will be made this month to several national retail chain stores, and products are expected to be available through select retail chains in early 2004.
SCOLR has completed development of and has begun making sales presentations to retail pharmacy chains and national mass merchandisers for CDT(TM) formulations of the following six products: 12-hour Vitamin C; 12-hour Ester C; 12-hour glucosamine hydrochloride; 12-hour glucosamine/chondroitin/MSM; 12-hour glucosamine hydrochloride-sulfate complex; and 8-hour caffeine. Each of these new products adds value and differentiation to their existing markets.
The collective U.S. market value of these product categories is over a billion dollars out of the over $18 billion dietary supplement industry, which has grown at a rate of 3.2% since 2001 (Chemical Market Reporter, Sept. 8, 2003). In 2002, the U.S. glucosamine market alone was estimated to represent more than one third of the U.S. specialty supplement market at $755 million and estimated to grow at an annual rate of 10-12% (Health Strategy Consulting, Chemical Market Reporter, July 14, 2003).
All of these new products will offer the unique benefits of SCOLR's patented CDT(TM) platform in controlled release tablet formulations. CDT(TM) 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.
Daniel O. Wilds, President and CEO of SCOLR, stated, "We are building upon the growing reputation and sales of CDT(TM) glucosamine/chondroitin, which is currently available in more than 7,000 retail stores, including Wal-Mart, Trader Joe's and RiteAid. More than 375,000 bottles and 32 million tablets of CDT(TM) nutritional products have been manufactured and shipped since March 2003.
"Our initial sales presentation of these new compounds was very well received and early indications are that we can expect interest similar to that enjoyed by our CDT(TM) glucosamine/chondroitin product. We expect to receive our first order later this year, which could mean that the first products could be available to consumers in early 2004," Wilds continued.
"We are making solid progress in our effort to receive near-term royalty revenue generated by CDT(TM) health supplements in order to support the longer term investments necessary to bring to market OTC products and prescription drugs utilizing our CDT(TM) technology platforms."
Based in Redmond, Wash., 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.