PROVO, Utah, March 31, 2005 /PRNewswire-FirstCall via COMTEX/ -- Pharmanex, a division of Nu Skin Enterprises (NUS), was recently honored by the Nutrition Business Journal (NBJ) with the 'Product Merit Award' for the Pharmanex(R) BioPhotonic Scanner and the Gold Award for the 'Growth in Large Companies' category. The awards were announced in the journal's annual awards issue, recognizing leaders of innovation in the nutrition industry.
"Pharmanex is pleased to be honored by the Nutrition Business Journal with these awards," said Joseph Chang, Ph.D., president of Pharmanex. "The Pharmanex BioPhotonic Scanner provides a powerful answer to the long-standing question about whether or not supplements are actually doing something in our body to benefit our health. With the Scanner, we have the ability to prove that our LifePak and G3 products are delivering important carotenoid antioxidants to the body's tissue. No other company has the ability to do this."
About the Awards
Pharmanex won the 'Product Merit Award' for the Pharmanex(R) BioPhotonic Scanner, the first noninvasive method for measuring carotenoid antioxidants in the body.
The article announcing the award noted recent substantiation of the Pharmanex(R) BioPhotonic Scanner stating, "A clinical study published by the American College of Nutrition showed that the Scanner is a more reliable measurement of carotenoid antioxidant status than conventional blood serum methods."
Pharmanex also won the Gold Award in the 'Growth in Large Companies' category for growing sales by at least 20 percent in its last four quarters. The article noted the dramatic effect the Pharmanex(R) BioPhotonic Scanner has had on revenue, stating, "In the third quarter of 2004 in the United States, where the Scanner has mostly been introduced, Pharmanex supplement sales were up 43 percent at a time when many U.S. network marketing companies have been posting flat domestic sales and focusing on international growth."
Recent Milestones Achieved by the Scanner
Since its introduction in the first quarter of 2003, the Pharmanex(R) BioPhotonic Scanner has had a significant impact in the United States. Quarterly Pharmanex revenue has increased 80 percent since the fourth quarter of 2002. The Scanner has also contributed to an 84 percent increase in monthly product subscription orders.
In addition, the Pharmanex(R) BioPhotonic Scanner has now been launched in 20 markets worldwide and is delivering positive results in several key markets. Pharmanex most recently launched the Scanner in Japan and Mainland China.
With the expansion of the Pharmanex(R) BioPhotonic Scanner's availability, Pharmanex is reaching more consumers around the world. Since the launch of the Scanner in February 2003, 1.7 million individuals have been scanned. Currently, Pharmanex is scanning an average of nearly four people per minute worldwide.
Pharmanex, a Nu Skin Enterprises company, applies pharmaceutical processes and scientific measurement to create nutritional supplements in approximately 40 markets worldwide. Pharmanex(R) products are sold direct to the consumer through the Internet and a network of independent distributors. For more information, go to www.pharmanex.com.
Nu Skin Enterprises, Inc. is a global direct selling company operating in 40 markets throughout Asia, the Americas and Europe. The company markets premium quality personal care products under the Nu Skin(R) brand, science- based nutritional supplements under the Pharmanex(R) brand, and technology based products and services under the Big Planet(R) brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol "NUS."
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs. The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward- looking statements or views expressed herein. These risks and uncertainties include, but are not limited to regulatory risks associated with the Pharmanex(R) BioPhotonic Scanner, which could inhibit the company's use of the BioPhotonic Scanner if it is determined to be a medical device in any market; and any inability of current or planned initiatives or products, including the introduction of the BioPhotonic Scanner in Japan, China and other markets, to generate interest among distributors and customers and generate sponsoring and selling activities on a sustained basis. The forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission, including the company's Annual Report on Form 10-k filed March 15, 2005. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change.