WORCESTER, Mass., Oct. 16, 2009 (GLOBE NEWSWIRE) -- Generex Biotechnology Corporation (Nasdaq:GNBT) (www.generex.com), the leader in drug delivery for metabolic diseases through the inner lining of the mouth, today announced that, at a conference earlier this week in Oran, Algeria, Generex, together with Continental Pharma Laboratories, the Company's importation, marketing, distribution, and sales agent in Algeria, announced the launch of commercial sales of Generex Oral-lyn(TM) in Algeria. The product has been approved for importation and commercial marketing and sale in Algeria, and will be marketed and sold for the treatment of patients with Type-1 or Type-2 diabetes. The size of the diabetes population in the Eastern Mediterranean and Middle East region is approximately 24,500,000.
The launch of Generex Oral-lyn(TM) took place at Royal Hotel, Oran. In addition to more than 100 endocrinologists and other healthcare providers in attendance, notable participants included:
* Mr. AbdulGhani Benhalima, President of Continental Pharma Laboratories; * Mr. Bill Abajian, Sr. Executive Advisor, Global Licensing and Business Development, Generex Biotechnology Corporation; * Dr. Jamie Davidson, Medical Director, Generex Biotechnology Corporation; * Professor Mohamed Belhadj, M.D., President of Algerian Internal Medicine Society; and * Mr. Leo Ohanian, Managing Director, Generex Biotechnology Corporation MENA.
"It is with great enthusiasm that we launch Generex Oral-lyn(TM) in Algeria with our distribution partner, Continental Pharma Laboratories," said Mr. Abajian. "While we continue to make progress in the Middle Eastern theater, our second commercial launch in the region (Lebanon and now Algeria) will provide great exposure to our novel and unique drug product. Over the course of both launches, more than 200 endocrinologists have been educated about the application of Generex Oral-lyn(TM) and that figure will continue to grow as additional training sessions take place."
The Algerian pharmaceutical market is approximately 1.5 billion Euros annually. The population of the country is about 33,000,000 and according to the International Diabetes Federation, Algeria has a diabetic prevalence of about 7.5% of the population, or 2,475,000 people ages 20-79.
About Generex Biotechnology Corporation
Generex is engaged in the research, development and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist(TM) device. The Company's flagship product, oral insulin (Generex Oral-lyn(TM)), which is available for sale in India, Lebanon, Algeria, and Ecuador for the treatment of subjects with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several sites around the world. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutics for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com.
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Safe Harbor Statement
This release and oral statements made from time to time by Generex representatives in respect of the same subject matter may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by introductory words such as "expects," "plans," "intends," "believes," "will," "estimates," "forecasts," "projects," or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Forward-looking statements frequently are used in discussing potential product applications, potential collaborations, product development activities, clinical studies, regulatory submissions and approvals, and similar operating matters. Many factors may cause actual results to differ from forward-looking statements, including inaccurate assumptions and a broad variety of risks and uncertainties, some of which are known and others of which are not. Known risks and uncertainties include those identified from time to time in the reports filed by Generex with the Securities and Exchange Commission, which should be considered together with any forward-looking statement. No forward-looking statement is a guarantee of future results or events, and one should avoid placing undue reliance on such statements. Generex undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Generex cannot be sure when or if it will be permitted by regulatory agencies to undertake additional clinical trials or to commence any particular phase of clinical trials. Because of this, statements regarding the expected timing of clinical trials cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.