SOURCE: Amexdrug Corporation

August 23, 2005 09:32 ET

Amexdrug Corporation to Acquire Dermagen, Inc.

BEVERLY HILLS, CA -- (MARKET WIRE) -- August 23, 2005 -- Amexdrug Corporation (OTC BB: AXRX) announced today that it has signed an agreement to acquire all of the business assets and shares of stock of Dermagen, Inc., a California corporation. Mr. Jack Amin, President and CEO of Amexdrug Corporation believes this acquisition is expected to increase future profit margins for Amexdrug Corporation, and will be a good acquisition for Amexdrug Corporation. He is planning to open offices in Asia, and to distribute Dermagen products in countries overseas.

Dermagen has a US-FDA registered and state FDA approved facility licensed to manufacture certain pharmaceutical products and medical devices. Dermagen has been owned and operated by pharmacists. Dermagen can provide complete development services including design, risk analysis, qualification of raw material vendors, complete set of specifications, and prepare stability data. Its staff has over 30 years of experience in product development, pilot batches, commercial production and distribution for large leading international companies.

Dermagen's clientele include companies outsourcing liquid pharmaceuticals, diagnostics, biotech products, oral liquids, topical products, sport drinks, ethnic topical preparations, and respiratory therapies. Contract services range from blending, filling, packaging, repacking, and kit assembly. Dermagen's facility is equipped to fill products in metal, multi-layer, or plastic tubes; plastic, glass and special designed containers with closure features.

Dermagen is well equipped to formulate, compound, fill and pack topical cream, lotion and ointment; oral liquids and nutrition supplements containing herbal extracts.

Dermagen's Board of Directors and Advisory Board of Chemists and Pharmacists include the following personnel:

Management - Board of Directors

* President - Mike Charu, MS; R. Ph.
* Operations Manager - Valentin Baltazar
Advisory Board
* M. Majeed, Ph.D.
* F. H. Boehm, III Ph. D.
* Jasbir Dhanjal, MSc.
* Charles F. Lustick, R. Ph.
* Humberto Zardo, B.S. Ind. Pharm., MSc.
President, Mr. Charu, R.Ph. has over 30 years of experience in the dermatology field. Before starting Dermagen, he was the Senior Scientist of Products Development at Herbert Labs, a division of SmithKline Beecham, and previously worked for Boots Drugs Company of England. He holds a Master Degree in industrial pharmacy from Long Island University in New York, and is a Registered Pharmacists in the state of New York.

Operations Manager, Mr. Baltazar has over 15 years of experience in managing dermatology and cosmetic operations. Before joining Dermagen, he was the Production Manager for Hearth Science.

M. Majeed, Ph.D. Dr. Majeed received his Ph. D. in Pharmaceutics from St. Johns University, New York. He is the co-founder of Dermagen and is considered a "guru" of herbal products.

F. H. Boehm, III Ph. D. Dr. Boehm has over 20 years of experience in managing marketing studies and product introduction in the pharmaceutical, OTC and nutraceuticals fields.

Jasbir Dhanjal, MSc. Mr. Dhanjal is the Vice President of Operations of K C Pharmaceuticals, California - USA. He has over 30 years of progressive management responsibilities within the pharmaceutical industry, including Director of Operations for Herbert Labs, a division of SmithKline Beecham. Mr. Dhanjal has also provided technical assistance for health care projects in Argentina, Brazil, Canada, China, Colombia, Indonesia, Ireland, Mexico, New Zealand, Puerto Rico and Thailand. He holds degrees in Biology and Chemistry.

Charles F. Lustick, R. Ph. Mr. Lustick has over 20 years of practicing pharmacy and is a well respected professional in this field.

Humberto Zardo, B.S. Ind. Pharm., MSc. Mr. Zardo is an independent consultant in International Pharmaceutical Development to private and public organizations within the health care business. His previous jobs in the industry include Technical Director for the Program for Appropriate Technology in Heath, Seattle, WA - USA and Director of Operations for Allergan (Brazil and International). He holds a degree and Industrial Pharmacy and post-graduation (Masters) in Biotechnology.

The President and CEO of Amexdrug Corporation, Mr. Jack Amin, is planning to retain the current President, Majority of the Advisory Board, and all of the employees of Dermagen. The acquisition is subject to certain contingences, and is expected to be consummated in September of 2005.

About Amexdrug

Amexdrug's wholly owned subsidiary, Allied Med, Inc. was formed in October 1997 and is engaged in the pharmaceutical wholesale business of selling brand name and generic pharmaceutical products, over-the-counter drug and non-drug products, and health and beauty products. It distributes products primarily to independent pharmacies and also to small and medium sized pharmacy chains, alternative care facilities and other wholesalers and retailers. It has a highly sophisticated computer system which provides high quality service to its clients and a website, http://www.amexdrug.com which allows online orders.

Statements in this press release other than statements of historical face are "forward-looking statements." These statements relate to future events or the Company's future performance. Such statements are subject to certain risks and uncertainties, including competition, availability of products, and other risk factors identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from any forward-looking statements. These forward-looking statements represent the Company's judgments as of the date of the release. The Company disclaims, however, any interest or obligations to update these forward-looking statements.

Contact Information

  • Contact:
    Rodney Barron, M.D.
    (310) 855-0475