Samaritan Pharmaceuticals, Inc. (SPHC.OB), a leading biopharmaceutical company, announced that corporate management have proven their ability to successfully lead the company when faced with the daunting task of commercializing breakthrough drugs. As a result, Samaritan’s 2008 outlook is projected to be stronger then that witnessed during previous years.
During the year 2007, Samaritan remained focused on developing and commercializing innovative therapeutic drugs. The Company made considerable progress when advancing their late stage HIV drug through two Phase II clinical trials; in addition to advancing their memory restoring Alzheimer’s drug. Samaritan has also made considerable progress when further developing their new pharmaceutical distribution business in Greece and Eastern Europe.
Dr. Janet Greenson, CEO of Samaritan, stated, “We have made significant advancements this year in our ongoing clinical development programs and the successful launch of our new international distribution business. We believe that there is significant growth potential in Greece and Eastern Europe for our in-licensed specialty prescription drugs and will move forward with increasing revenues in the division through the in-licensing of additional products. Our clinical development programs are moving forward as well. We look forward to providing updates on the phase III. 2008 should prove to be a very busy year with growth in the distribution business and developments in our clinical programs. We will update our shareholders accordingly.”
Samaritan has three strategies to drive revenue growth, support clinical trials, and generate profit. The strategies include the out-licensing of drugs, the in-licensing of approved drugs for niche territories in Greece and Eastern Europe, and making every shareholder dollar count by utilizing in-house expertise to conserve capital.
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