LOS ANGELES, CA--(Marketwired - Jun 4, 2015) - Decision Diagnostics Corp. (OTC PINK: DECN), the manufacturer, quality plan administrator and the exclusive worldwide sales, service and regulatory processes agent for the popular GenStrip 50, the FDA cleared Green Glucose Test Strip, specifically designed to work with the market leading Johnson & Johnson's LifeScan OneTouch Ultra family of glucose testing meters, today announced the selection and contracting of a Korean manufacturer to supplement the supply of the company's proprietary blood glucose test strip. The agreement also encompasses the co-development of multiple internally designed new products, a market ready meter system that utilizes the company's proprietary blood glucose test strip in export markets, and the distribution of an existing glucose monitoring system to the domestic at-home pet testing market. This agreement was activated through a cash investment by the Decision Diagnostics subsidiary Pharma Tech Solutions, Inc., in the Korean manufacturer.
Keith Berman, Principal Executive of Decision Diagnostics commented, "Concurrent to battling each Lifescan/J&J attack and refuting every allegation, the company has been preparing for the Genstrip 50 demand explosion following our upcoming legal triumph. The agreement that we have signed with our newly appointed Korean manufacturer will open a vital supplemental product stream to meet the needs of the global diabetic patient population and also allow us to accelerate the market introduction of new products and technologies. Sales of Genstrip 50, the company's current flagship product, have been hindered for the last several years by the documented repressive Lifescan/J&J tactics, initiated solely to keep our product from legitimately competing in the diabetic test strip arena. Those tactics, including allegations of patent infringement, repeated litigation threats to wholesalers and retailers, and the testimony of fraudulent experts to secure court injunctions have now been effectively and thoroughly negated. The company believes that our litigation victory will be defined by a global blanketing of the diabetic patient population with a re-launch and rebranding of the Genstrip 50 blood glucose test strip and the introduction of several unique new products with no existing competition. Wholesalers, retail drug, chain drug and big box retailers will readily purchase Genstrip 50 without further fear of J&J legal reprisal. Diabetics around the world will finally be able to buy a superior test strip at a dramatically reduced price and a possible testing meter alternative to the Lifescan OneTouch Ultra meter."
Mr. Berman continued, "The world's diabetic patient population must test their glucose levels multiple times a day to simply live normal lives. They have been forced to pay an artificially inflated product price, due to the monopolistic practices of Lifescan/J&J. The end of that monopoly is now within sight and diabetics will be able to purchase a superior life enhancing test strip at a fraction of the price. Our newly contracted supplemental manufacturer will assure our ability to satisfy demand escalation seamlessly and without interruption. The product flow will be released in the beginning of the 4th quarter (2015) and will contribute the significant added benefit of a substantially reduced landed cost."
Mr. Berman concluded, "The supply benefits emanating from this agreement are readily apparent. We are now fully prepared and fortified for the collapse of the Lifescan/J&J frivolous litigation and intimidation campaign. The healthcare supply chain will shortly embrace our products and our shareholders will be excited to learn of the dramatic cost reduction emanating from this new product stream. Our Korean contract manufacturer will, however, also be working with us in the development and manufacture of several planned products, whose completion have been slowed during the litigation attacks. We will also be shortly launching a product internally developed by our contract manufacturer that employs existing DECN proprietary technology, combined with a meter system that we expect to be embraced throughout the now expansive international markets while simultaneously negotiating with a Taiwanese manufacturer for access to their existing wireless remote product line."
This release contains the Company's forward-looking statements which are based on management's current expectations and assumptions as of June 4, 2015, regarding the Company's business and performance, its prospects, current factors, the economy and other future conditions and forecasts of future events, circumstances and results.
For further information about the Pharma Tech GenStrip™ 50 and the company's Discretion Companion and Discretion Messenger products, please visit the company's Web Sites: http://www.decisiondiagnostics.com or http://www.pharmatechdirect.com or http://www.new-genstrip.com.