SOURCE: RxElite, Inc.

April 21, 2008 14:30 ET

RxElite Announces 7 Year Agency Agreement With ACIC Europe Limited to Market Its FineTech Pharmaceuticals Product Line in Europe and Latin America

MERIDIAN, ID--(Marketwire - April 21, 2008) - RxElite, Inc. (OTCBB: RXEI) announced today it has granted ACIC Europe Limited the exclusive right to represent selected high value Active Pharmaceutical Ingredients (API) produced by its wholly owned subsidiary FineTech Pharmaceuticals, in Europe and Latin America.

"We are excited to partner with ACIC. This will go a long way to accelerating the anticipated yield from our investment in acquiring FineTech," stated Jonathan Houssian, the CEO of RxElite. "ACIC's seasoned presence in these markets makes them an excellent partner to capitalize on growing our current portfolio of API products in the world wide market."

About RxElite, Inc.

RxElite, Inc. develops, manufactures, and markets generic prescription drug products in specialty generic markets. These markets include products in the areas of anesthesia, sterile liquid dose drugs (including respiratory inhalation drugs, ophthalmics, and injectable drugs), complex active pharmaceutical ingredients, and other specialty areas.

About ACIC Europe Limited

ACIC Europe Limited is an integrated pharmaceutical services company providing active ingredients, technologies, finished dosage forms, regulatory services, manufacturing and outsourcing expertise to clients in global markets. The Company's recognized international experience, network of partners, and advanced market knowledge help to broaden the scope and range of its clients' product possibilities and create mutually beneficial co-operation opportunities for its network of partner companies.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

Contact Information

  • For more information:

    Corporate Information
    Ph: (208) 288-5550
    Toll Free: (800) 414-1901
    Fax: (208) 288-1191

    Investor Relations
    Ric Tener
    PH: (208) 288-5550
    Fax: (208) 288-1191
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