National Pharmaceuticals Corporation

March 03, 2011 09:02 ET

National Pharmaceuticals Corp. to Engage Contract Companies to Carry Out Its Drug Development

MIAMI, FLORIDA--(Marketwire - March 3, 2011) - National Pharmaceuticals Corp. (PINK SHEETS:NFRM) or the "Company" announced today that it has reached an agreement in principal with Globe Laboratories ( to become National's exclusive partner to develop its drugs to the final stage of development.

Globe Laboratories is a well established biopharmaceutical company with expertise in biopharmaceutical drugs manufacturing and development. Globe's team has extensive experience in drug development and regulatory approval and have already pioneered several products to the late stage development and partnership.

"We are very pleased to have a very established team with highly experienced technical personnel to serve as our partner. NFRM believes that it does not need to set up its own laboratories and hire its own technical people to carry out its drug development at this stage." said Ms. Elaine Affleck, President & CEO of National Pharmaceuticals Corp. "While NFRM is responsible with the costs associated with drug development and approval process of its drugs, this highly qualified team can shorten the time needed to bring our drugs to the market successfully. Overall, having contracted out the work to this team of experts, should guarantee NFRM a higher rate of success for its drugs" further added Ms. Affleck.

About National Pharmaceuticals Corp.

National Pharmaceuticals Corp. is a Pharmaceutical Research and Development Corporation focused on leading edge technologies for treatment of human diseases. The company has embarked into the business of licensing mid stage development drugs for further development and marketing worldwide.

Forward-looking Statements - Important Information about Forward-Looking Statements in this press release is within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above.

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