Sales Launch in Greece Expected Next Month AMPHOCIL is the First of Nine Revenue Producing Products In-Licensed to Samaritan
LAS VEGAS, March 8, 2007 (PRIME NEWSWIRE) -- Samaritan Pharmaceuticals, Inc. (AMEX:LIV), a developer of innovative drugs, is pleased to announce it has received a price approval from the Greek Ministry of Development for AMPHOCIL. This represents a major achievement in that Samaritan was able to obtain a price increase reaching the level of 94%, which is the second highest price increase granted by the Ministry.
AMPHOCIL was in-licensed to Samaritan by Three Rivers Pharmaceuticals LLC. Samaritan was granted marketing authorization for AMPHOCIL(r) in April of 2006 in Greece; however Samaritan needed to apply for a price increase for it to be profitable. Samaritan expects to launch AMPHOCIL in Greece next month.
Dr. Greeson, CEO of Samaritan Pharmaceuticals stated, "Dr. Christos Dakas is to be credited for his tireless enthusiasm and perseverance in getting this price approval from the Greek Ministry of Development. We believe AMPHOCIL will play an important role in treating life-threatening fungal infections and we are pleased to be a part of making it available in Greece."
Samaritan is marketing AMPHOCIL for use in treating life-threatening opportunistic infections, that often afflict immuno-compromised patients, such as people with AIDS, transplant patients receiving immunosuppressant therapy, and cancer patients receiving chemotherapy or radiation treatment. Growth in these patient populations and the related increase in opportunistic infections are linked to rapid growth in the antifungal therapy market.
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The company disclaims any information that is created by an outside party and endorses only information that is communicated by its press releases, filings and Website. This news release contains forward-looking statements that reflect management's current beliefs about the potential for its drug candidates, science and technology. However, as with any biopharmaceutical under development, there are significant risks and uncertainties in the process of development and regulatory review. There are no guarantees that products will prove to be commercially successful. For additional information about the factors that affect the company's business, please read the company's latest Form 10-K/A filed November 2, 2006. The company undertakes no duty to update forward-looking statements.