 |
|
SHENZHEN, China, November 9 /PRNewswire/ -- Hard To Treat Diseases (OTC: HTDS) http://www.htdsmedical.com, announced
today that Novartis, a US$41 billion international healthcare company, is
acquiring an 85% stake in HTDS' H1N1 Vaccine partner, Zhejiang Tianyuan
Bio-Pharmaceutical Co., Ltd., for US$125 million. Novartis of Switzerland
will begin a five-year, $1 billion China initiative with two aims: the
company will dramatically increase its investment in its China R&D facility,
and it will seek to make China one of its top three markets worldwide. The
comments were made by Novartis' CEO, Daniel Vasella, in an interview with The
Wall Street Journal. http://www.chinabiotoday.com/articles/20091103_1
HTDS' Chinese subsidiary, Mellow Hope, is the exclusive agent of Zhejiang
Tianyuan Bio-pharmaceutical for International marketing and sales. Zhejiang
Tianyuan Bio-pharmaceutical has been granted a H1N1 license on September 24,
2009 by the Chinese government agency, SFDA.
Terry Yuan, HTDS' President/CEO said: "We believe that when you start to
appreciate what Novartis' commitment to our partner in China fully means, and
the see the large financial commitment to our partner just for the China
market, you can begin to appreciate the enormous value to HTDS of our
exclusive international marketing and sales relationship with Zhejiang
Tianyuan Bio-Pharmaceutical. Further, the more you appreciate this value, the
more you will find yourself understanding our value to them when they
appointed us exclusive agent for international marketing and sales. As Mellow
Hope owns all of registrations, clinical trials and brands for Zhejiang
Tianyuan's international markets, the new Novartis-Zhejiang-Tianyuan entity
will continue to leverage our assets and expertise in its international
market. The Novartis purchase was announced by Novartis-Zhejiang-Tianyuan on
November 4, 2009 (see link below)
http://www.marketwatch.com/story/novartis-to-buy-85-of-chinese-vaccines-producer-2009-11-04?siteid=yhoof2.
HTDS management, elected not to release this immediately, to allow the HTDS
management and its advisors to digest and analyse the long term effects of
this transaction for HTDS. HTDS management is very optimistic and foresees
its relationship and business with Zhejiang Tianyuan will only be further
strengthened by the participation of Novartis."
(Due to the length of this URL, it may be necessary to copy and paste
this hyperlink into your Internet browser's URL address field. Remove the
space if one exists.)
Novartis reports that it has made the purchase of a majority interest in
Zhejiang Tianyuan through proposed acquisition of a majority stake for US$125
million to expand its human vaccines presence in China. Zhejiang Tianyuan is
a privately-held vaccines company providing a competitive product portfolio
and pipeline in China, where Novartis has a limited vaccines presence.
Tianyuan and Novartis are to collaborate on building a vaccines industry
leader targeting unmet medical needs in China, the world's third-largest
vaccines market. Acquisition of 85% stake in Tianyuan for approximately
US$125 million will require Chinese regulatory and government approvals.
Tianyuan is a privately-owned vaccine company offering a range of
marketed vaccine products in China and R&D projects focused on various
preventable viral and bacterial diseases. Tianyuan has been delivering
dynamic and profitable growth, having more than doubled its net sales to
approximately US$25 million in 2008.
About Hard To Treat Diseases (HTDS)
HTDS operates 2 medical subsidiaries in Mainland China (Mellow Hope)
http://www.mellowhope.com and Serbia, Europe (Slavica Bio Chem.)
(http://www.slavicabiochem.com)
Mellow Hope is China-based and the biggest exporter of Biological
Vaccines in China. It has a product line that encompasses vaccines for
influenza, tetanus, diphtheria and other diseases; Blood based products
including human rabies immunoglobulin; and active pharmaceutical ingredient
(or APIs) for injection such as celesta in. In Serbia the company's primary
focus involves the enhancement and modification of existing approved drugs
such as "Virazole" for the purpose of chemical repair of damage to the CNS
(central nervous system), MS (Multiple Sclerosis), SARS, Hepatitis C and HIV.
To receive future updates, via email including quarterly newsletters and
company updates which may not be newsworthy, however important to the reader
and followers of the company please sign up today for free at
http://www.minamargroup.com/updates
Safe Harbor Statement
Information in this news release may contain statements about future
expectations, plans, prospects or performance of Hard to Treat Diseases Inc.
that constitute forward-looking statements for purposes of the Safe Harbor
Provisions under the Private Securities Litigation Reform Act of 1995. The
words or phrases "can be", "expects", "may affect", "believed", "estimate",
"project" and similar words and phrases are intended to identify such
forward-looking statements. Hard to Treat Diseases Inc. cautions you that any
forward-looking information provided by or on behalf of Hard to Treat
Diseases Inc. is not a guarantee of future performance. None of the
information in this press release constitutes or is intended as an offer to
sell securities or investment advice of any kind. Hard to Treat Diseases
Inc.'s actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important factors, some of
which are beyond Hard to Treat Diseases Inc.'s control. In addition to those
discussed in Hard to Treat Diseases Inc.'s press releases, public filings,
and statements by Hard to Treat Diseases Inc.'s management, including, but
not limited to, Hard to Treat Diseases Inc.'s estimate of the sufficiency of
its existing capital resources, Hard to Treat Diseases Inc.'s ability to
raise additional capital to fund future operations, Hard to Treat Diseases
Inc.'s ability to repay its existing indebtedness, the uncertainties involved
in estimating market opportunities, and in identifying contracts which match
Hard to Treat Diseases Inc.'s capability to be awarded contracts. All such
forward-looking statements are current only as of the date on which such
statements were made. Hard to Treat Diseases Inc. does not undertake any
obligation to publicly update any forward-looking statement to reflect events
or circumstances after the date on which any such statement is made or to
reflect the occurrence of unanticipated events.
For further information: For medical and scientific dialogue inquiry
only, please contact medicalinfo@htdsmedical.com; For any corporate
matters, please contact http://www.minamargroup.com/helpdesk; For any retail
investor relations matters, please contact
http://www.minamargroup.net/helpdesk, (IR); For (M&A) and Corporate Matters
http://www.minamargroup.com (HTDS)
|
|