SOURCE: Spencer Pharmaceutical Inc.

October 20, 2010 09:42 ET

Spencer Pharmaceutical Has Begun Licensing Talks With Leading Asian Pharmaceutical

BOSTON, MA--(Marketwire - October 20, 2010) -  Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today that it has begun licensing talks with a leading Asian Pharmaceutical to manufacture and distribute its Met4 formula to the region.

According to management, a confidentiality agreement has been signed by the companies preventing the name of the Pharmaceutical to be named. However, advanced discussions are underway for the licensing, co-development of certain formulations as well as manufacturing the new Met4 formulation.

"We are very confident in our new formulation to gain popularity very quickly in most major markets but the Asian Market could yield a rapid adoption and immediate sales," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "Our Met4 delivery is the biggest advancement in the fight against diabetes since metformin," further added Dr. Arella.

About Spencer Pharmaceutical Inc.

Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.

Important Information About Forward-Looking Statements in this press release may be "forward-looking statements" 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. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release.

Contact Information

  • Contact:
    Dr. Max Arella
    Spencer Pharmaceutical Inc.
    Tel. 1+(617) 973-5017