SOURCE: Fero Industries, Inc.

December 20, 2010 14:43 ET

Fero Industries Delivers First Shipment of Retail Packaged Sucanon® to Merck S.A. de C.V.

Commercial Launch of Sucanon® in Mexico Set for January 2011

CALGARY, AB--(Marketwire - December 20, 2010) - Fero Industries, Inc. (OTCBB: FROI) (the "Company") is pleased to announce that it has processed and shipped the first delivery of 20,000 retail packages of Sucanon® to Merck S.A. de C.V. for distribution in Mexico. The initial shipment of 20,000 retail packages represents the minimum monthly purchase commitment from Merck S.A. de C.V. for the Mexico market. Each retail package of 60 tablets is the equivalent of a one-month patient supply. Upon receipt of the initial delivery, Merck S.A. de C.V. doubled its scheduled order and requested that the Company deliver an additional 20,000 retail packages prior to the end of this month.

"Building and maintaining proper inventory levels are key ingredients to a successful distribution network in a country the size of Mexico," said Mr. Kyle Schlosser, President and CEO of Fero Industries. "The tabletization and retail packaging of our first delivery to Merck S.A. is a major milestone towards the commercialization of Sucanon®."

Merck S.A. de C.V. has committed a team of over 200 drug sales representatives to a nationwide campaign to increase awareness and acceptance of Sucanon® within the medical and patient communities in Mexico as a safe and effective Type II diabetes remedy. Commercial launch and sales of Sucanon® in Mexico are expected to commence in early January 2011. 

Mexico has one of the largest and fastest growing diabetic populations in the world, estimated at 15% of the total population. This indicates over 16 million diagnosed cases of diabetes, up seven fold since 1990. Diabetes is now the leading cause of death in Mexico and costs the country more than one-third of its total public health care budget annually. 

Sucanon® is one of only three approved drugs in the 5.6 billion dollar market for a class of diabetic medications called "Insulin Sensitizers." Pre-clinical and clinical studies show that Sucanon® and other insulin sensitizers lower a patient's blood sugar by increasing the muscle, fat and liver's sensitivity to the body's own naturally produced insulin.

Sucanon® is currently approved as an Over-The-Counter ("OTC") remedy for Type II diabetes by regulatory authorities in Mexico and is distributed under an exclusive agreement with Merck S.A. de C.V. in Mexico. Merck S.A. de C.V. is the Mexico and Latin America sales and marketing organization of German pharmaceutical and chemical giant, Merck KGaA ($9.9 billion in 2009 sales).

For further information regarding Sucanon®, please visit the Fero Industries Inc. website at www.feroindustries.com.

About Fero Industries Inc.

Fero Industries, Inc. (OTCBB: FROI) is focused on diabetes prevention and treatments. The Company has acquired the rights to Sucanon®. Sucanon® is a member of a class of diabetic medications called insulin sensitizers. Insulin sensitizers lower blood sugar by increasing the muscle, fat and liver's sensitivity to insulin. Insulin sensitizers are blood sugar normalizing or euglycemic drugs that help return the blood sugar to the normal range without the risk of low blood sugars. Fero's strategy is to increase awareness, acceptance, and distribution of Sucanon® globally.

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Fero Industries, Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements.

The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."

Contact Information

  • Investor Contact:

    Interactive Resources Group, Inc.
    Michael Irving
    1-866-998-9669 Ext.150