ORLANDO, Florida and Dublin, Aug. 3, 2015 (GLOBE NEWSWIRE) -- via PRWEB - An agreement between Immune Therapeutics GB Pharma/AHAR with Fidson Healthcare will enable Fidson marketing, sales, customer support, and technical assistance organization to promote LodonalTM in Nigeria. This will elevate Immune Therapeutics and GB Pharma/AHAR distribution network to the next level. The distribution will become effective, upon completion of the ongoing NAFDAC approved 90‐day Bridging trial evaluating the efficacy and safety of LodonalTM.
Fidson CEO/Managing Director, Dr. Fidelis Ayebae expressed that, "Fidson is truly excited about this collaboration with Immune Therapeutics and GB Pharma/AHAR. We know that success in this industry going into the future will be dependent on having the right partnerships, and we could not have asked for better partners at this stage of our growth. Immune Therapeutics and GB Pharma/AHAR international experience in different markets and their strong commitment to research will be of immense benefit to Fidson. Likewise, Fidson's towering presence in the Nigeria Pharma space will open a great door for the group to access one of the biggest and most rewarding markets in Africa".
Fidson Healthcare Plc recorded sales of USD60.5 million in 2014 and has seen revenues rise at a 15% CAGR over the last five years. Its consistent performance in the Nigerian pharmaceutical sector was recently recognized by Frost & Sullivan, who named Fidson as the recipient of its '2014 Growth Excellence Leadership Award in the Nigerian Pharmaceutical Industry'. The Company has also won other corporate awards including the Financial Standard 'Pharmaceutical Sector Leader' Award in 2008 and the 'Nigerian Pharmaceutical Company of the Year' at the Nigerian Healthcare Excellence Awards (NHEA) in 2014. Fidson's definitive growth and consistent performance in the Nigerian stock market also earned her CEO the 2014 BusinessDay Top 25 CEOs Award, which the company has won consecutively for two years.
To offer options in manufacturing Fidson will be commissioning a USD54.0 million manufacturing plant in the fourth quarter of 2015. The new facility will double the company's production capacity. The new factory will also for the first time, add intravenous fluids to Fidson's product portfolio. The facility is built to conform to the World Health Organization (Geneva) current Good Manufacturing Practice (WHO-GMP) standards.
AHAR CEO, Dr. Richard Afonja, stated that "we are well positioned to effect this novel approach to treating HIV/AIDS and other immune compromised diseases in the whole of Africa, starting with Nigeria. Bringing Fidson on board will enhance the facilitation of getting this much needed treatment approach for these conditions".
This announcement comes on the heels of the recent visit [July 20] by Nigerian President Muhammadu Buhari to the White House and President Barack Obama. The significance is monumental as a concrete symbol of US-Nigerian commerce in a non-oil/gas related sector and a show case for the future of local manufacturing of quality pharmaceuticals on the African continent.
President & CEO of GB Pharma, Dr. Gloria B. Herndon, said that "this is the crescendo of a great masterpiece that partnership of GB Pharma, American Hospitals & Resorts, Immune Therapeutics and Fidson Healthcare, each with its distinct role. Immune Therapeutics, a speciality pharmaceutical company, provides Lodonal, its patent therapy, in emerging markets. GB Pharma is responsible for the introduction of affordable and sustainable healthcare products throughout Africa. AHAR markets and provides the clinical application and promotion through its network. Fidson Healthcare markets and distributes throughout the extensive Nigerian Network. We feel that Nigeria and US bilateral relationship will benefit from this amazing initiative that will enhance the health and well being of people all over the world. This is the spirit of collaboration that President Obama and President Buhari were talking about during the State visit".
About Immune Therapeutics, Inc.: Immune Therapeutics, Inc [formally TNI Biotech, name change 2014] is a biotechnology company working to combat chronic, life‐threatening diseases through the activation and modulation of the body's immune system using our patented immunotherapy. Our products and immunotherapy technologies are designed to harness the power of the immune system to improve the treatment of cancer, infections such as HIV/AIDS, chronic inflammatory diseases, and autoimmune diseases. Our proprietary technology, therapies and patents include the treatment of a wide range of cancers. Our most advanced clinical programs involve immunotherapy with met‐enkephalin (MENK) (sometimes referred to as opioid growth factor) and our Low Dose Naltrexone product (LDN) or Lodonal™, which have been shown to stimulate the immune system even in patients with advanced cancer. Even though management considers any condition that results in altered‐immune response a target for investigation, we will most likely pursue additional investigations for MENK and LDN as valuable candidates in the treatment of autoimmune states such as rheumatoid arthritis and multiple sclerosis; as an adjunct in cancer patients undergoing chemotherapy, radiation treatments or surgery; and as a complement to antibiotics in the treatment of a variety of infectious diseases, including patients with HIV/AIDS, in combination with retroviral drug therapy.
About Airmed Biopharma Limited: Airmed Biopharma Limited, our Irish subsidiary, is our pharmaceutical sales division and is responsible for servicing sales orders for Lodonal™ in countries where we have received sales approval in Latin America and Africa.
About TNI BioTech International, Ltd. TNI BioTech International, Ltd., a BVI company and our subsidiary, is responsible for managing our international distribution and is the contracting entity with the Nigerian 90-Day Bridging trial.
About GB Pharma Holdings: GB Pharma Holdings is a Washington D.C. global Pharmaceutical company with expertise in defining policies, facilitating approvals, distribution and cGMP (current Good Manufacturing Practices) and introducing innovative therapies to Africa. GB Pharma Holdings was established in order to be on the forefront of change and is dedicated to bringing cost effective and quality products to Africa. We are able to link new technologies, science and education together to be a cause for good. GB Pharma Holdings core focus is twofold; manufacturing cGMP quality pharmaceuticals and helping existing government agencies develop testing and regulations to purge counterfeit and sub-potent products out of their respective countries. Additionally, GB Pharma Holdings sources products directly from manufacturers able to provide quality pharmaceuticals and medical products. We are able to provide pedigree of any products we provide. Quality of products we distribute is guaranteed through testing reports, closed loop network and meticulous tracking from acquisition to final delivery on every product we provide. Our relationship with several universities in the United States and teaching Hospitals keeps us on the cutting edge of proven new trends and technologies. Additionally, we have an excellent relationship with international agencies and regulatory bodies.
About American Hospitals and Resort: Dr. Richards Afonja, a Hematologist/Oncologist, living and working in New Jersey and Nigeria with over 28 years of experience, is the founder of American Hospitals & Resort [AHAR], a cancer and blood disorder treatment center (americanhospitals.org) that has been delivering high quality healthcare in Nigeria since 2007. AHAR Pharma is the associated pharmaceutical company, which operates in the West and East Africa markets. AHAR specializes in branded medicines and seeks to improve the lives of patients suffering from infectious diseases. Associated organizations include Paterson Medical Services Corp, Colfax Oncology, Inc. and Princeton Health Care, which is an HMO that has been operating in Nigeria since 2000, both entities were founded and are managed by Dr. Richards Afonja.
About Fidson Healthcare: Fidson Healthcare Plc., is a leading pharmaceutical company in Nigeria and the West African sub-region. The Company is listed on the Nigerian Stock Exchange and has over 200 products across several therapeutic classes. Her product portfolio cuts across anti-infectives, gastrointestinal, antiretroviral, anti-malarial, cardiovascular, analgesic, haematinics and supplements.The Company started operations in 1995 and set up its first local manufacturing facility in July 2002. The company was awarded the NIS: ISO 9001:2008 certification in 2011 by the International Standard Organization (ISO) in recognition of her world-class management systems. To achieve her strategic imperative of consistently improving its products and consolidate its market position, Fidson has continued to invest in research and development across various disease areas. The company has recorded a number of firsts, key among which was becoming the first company in Sub-Saharan Africa to manufacture antiretroviral drugs in 2005.
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