BELLEVUE, Wash., Feb 23, 2004 (BUSINESS WIRE) -- SCOLR, Inc. (AMEX:DDD) announced today that General Nutrition Centers, Inc. (GNC), the largest specialty retailer of nutritional supplements, is now carrying CDT(TM) (controlled delivery technology) glucosamine & chondroitin. The 12-hour formulation of 500mg. glucosamine with 400mg. chondroitin tablets is currently available in approximately 2,000 GNC corporate stores.
Glucosamine is used in the treatment of osteoarthritis. According to Frost & Sullivan, national sales of glucosamine increased from estimates of $630 million in 1999 to an estimated projection of $1.58 billion in 2001. SCOLR's CDT glucosamine & chondroitin improves convenience by extending the release of glucosamine in the gastro-intestinal tract.
"The GNC chain is known for its devotion to helping its customers improve their quality of life and we are pleased that it has selected to offer its customers the convenience and benefits of this distinctive product," said Daniel O. Wilds, President and CEO of SCOLR. "This is the first of our CDT formulations to be ordered by GNC and we look forward to working with GNC to develop additional products in the future.
"GNC is the first major chain in the health food industry to recognize the important dosing and manufacturing advantages provided by our patented CDT technologies. Those distinguishing features continue to drive interest in prospective partners who seek to develop additional novel products utilizing our platforms," Wilds said.
General Nutrition Centers, Inc. (GNC), based in Pittsburgh, Pa., is the largest nationwide specialty retailer of vitamin, mineral and herbal supplements, sports nutrition as well as personal care and related products. GNC operates more than 5,000 retail outlets throughout the United States, including over 1,300 domestic franchise locations, and locations in over 30 foreign markets including Canada and Mexico.
Based in Bellevue, Wash., SCOLR, Inc. is a biopharmaceutical company leveraging specialized knowledge, proprietary and patented products and technologies, such as the patented CDT Controlled Delivery Technology platform, to introduce distinctive and novel OTC products, prescription drugs and dietary supplements. SCOLR's CDT 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 425-373-0171 or visit http://www.SCOLR.com/.
This press release contains forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. 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 arrangements with the Company's product development partners and customers, competition, government regulation, and general economic conditions. Such statements are subject to a number of assumptions, risks and uncertainties which are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission. Such filings are available on our website or at www.sec.gov. 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 to reflect subsequent events or circumstances.