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Common stock, no par value; 800,000,000 shares authorized; 20,696,642 issued and outstanding
Rx for Africa, Inc. Now Trading Under New Symbol (RXAF.PK)
Wednesday October 31, 8:30 am ET
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Rx for Africa, Inc.
Investing in Generic Pharmaceutical Manufacturing in Sub-Saharan Africa
ANNOUNCEMENT: Replay of conference calls available here.
Rx for Africa, Inc. a public New Jersey corporation, was formed in 2007 to invest in companies manufacturing generic pharmaceuticals in Sub-Saharan Africa. Most pharmaceuticals marketed in Africa are imported. We believe the time is right for in-country facilities that conform to good manufacturing practice (GMP) and we believe these companies can be run profitably while benefiting the local economies by creating jobs at all levels, including professional class (scientists, plant managers, accounting staff). Our wholly-owned Ethiopian operating company has hired scientists from India and Germany to staff its newly completedR&D Center, and is currently manufacturing a list of generic pharmaceuticals. Everything they manufacture is sold.
Rx for Africa, Inc., a public New Jersey corporation formed in 2007, invests in companies manufacturing generic pharmaceuticals in Sub-Saharan Africa. Rx Africa (Ethiopia) P.L.C. is a wholly-owned operating subsidiary, with a campus just outside Addis Ababa, Ethiopia: factory, R&D center and office facilities, currently producing pharmaceutical products. The company sells 100% of its current production through distributors.
The six generic pharmaceuticals we currently manufacture in our modern manufacturing facility are described below. We sell 100% of our output. Our new R&D center has already formulated nine more pharmaceuticals which we expect to put into production in the first half of 2009. We are in the process of formulating twenty two additional generic medications in 2009/2010.
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Cimetidine 500mg (film-coated tablet)
|A histamine H2-receptor antagonist that inhibits the production of acid in the stomach. It is largely used in the treatment of heartburn and peptic ulcers. |
| ||Ciprofloxacin 500mg (film-coated tablet) || |
Ciprofloxacin is bactericidal. Its mode of action depends upon blocking bacterial DNA replication by binding itself to an enzyme called DNA gyrase, thereby inhibiting the unwinding of bacterial chromosomal DNA during and after the replication.
It has a variety of indications, including lower respiratory tract infections (such as pneumonia and acute bronchitis), urinary tract infections, several STDs, skin and soft tissue infections, septicemia, legionellosis, and anthrax.
| ||Doxycycline 500mg (capsule) ||A member of the tetracycline antibiotics group, it is commonly used to treat a variety of infections. Doxycycline is frequently used to treat chronic prostatitis, sinusitis, syphilis, chlamydia, pelvic inflammatory disease and acne. In addition it is used in the treatment and prophylaxis of anthrax and in prophylaxis against malaria |
| ||Norfloxacin 500mg (film coated tablet) || |
An oral broad-spectrum fluoroquinolone antibacterial agent used in the treatment of urinary tract infections. It is also sometimes used to treat stomach infections.
| ||Omeprazole 500mg (pellet) || |
A proton pump inhibitor used in the treatment of dyspepsia, peptic ulcer disease (PUD), gastroesophageal reflux disease (GORD/GERD) and Zollinger-Ellison syndrome.
| ||Tinidazole 500mg (film-coated tablet) || |
An anti-parasitic drug used against protozoan infections. It is widely known throughout Europe and the developing world as treatment for a variety of amoebic and parasitic infections
Management of Rx for Africa, Inc.
Mulugetta Bezzabeh, PhD President and Chairman of the Board
Mulugetta Bezzabeh, PhD is the founder, President and CEO of Rx Africa (Ethiopia) PLC, which was founded in 2003 as Sunshine Pharmaceuticals, as a manufacturer and distributor of generic pharmaceuticals, in a joint venture with the People’s Republic of China. A factory was built and production of generic pharmaceuticals commenced. In 2006 the Chinese were bought out by private interests, with the goal of becoming one of the few FDA-GMP (Good Manufacturing Practices)-approved pharmaceutical factories in Sub-Saharan Africa.
Dr. Bezzabeh was awarded his PhD from the University of Leeds in the UK. He began his career as the Minister for Rural Development in Ethiopia. He joined the United Nations in 1980, first working from Rome, Italy at the Food and Agriculture division, and later, as the Senior Regional Advisor in the Economic Commission for Africa at the United Nations headquarters in New York City, in charge of Rural Development throughout Africa. Dr. Bezzabeh has published many articles on this subject.
Former Executive at Genzyme Corp. and Osiris Therapeutics, Inc. to Head Business Advisory Board at Rx for Africa, Inc
On Monday April 13, 2009
NEW YORK, April 13 /PRNewswire-FirstCall/ -- A top biotech executive, William Pursley, has agreed to become Chairman of Rx for Africa, Inc.'s (Pink Sheets: RXAF - News) newly created Business Advisory Board. For 25 years Mr. Pursley has held major executive positions in the biotech industry. In 1985 he joined Genentech, Inc., and was on the marketing team that launched Human Growth Hormone (HGH), one of biotech's first products. It was a huge success. In 1985 Pursley joined Genzyme Corp as VP of Marketing and spearheaded the launch of Ceradase, an Orphan Drug for the treatment of Gaucher's Disease. Only 3,000 people in the US suffer from Gaucher's. Hopes were that the drug would reach $40 million in sales by the third year on the market. It did $120 million in year three. Ceradase has gone on to be Genzyme's biggest seller. It's sales currently exceed $600 million. Genzyme's market cap exceeds $18 billion. Mr. Pursley subsequently became CEO of Osiris Therapeutics, Inc., a leading mesenchymal stem cell company, which recently announced a major corporate alliance with Genzyme.
In 1999, Mr. Pursley joined Transkaryotic Therapeutics as Senior VP of Operations, supervising the European launch of the company's first product, Replagal, an orphan drug for Fabry's disease. The drug took 75% market share in Europe. In 2005, Transkaryotic was sold to Shire Pharmaceuticals for $1.6 billion. He has also achieved great success with reimbursement programs for the drugs he has marketed. "With Ceradase, we were successful in getting insurance companies to reimburse patients up to $350,000 a year for their treatment. Today, in Africa, there are multi-billion dollar funds such as PEPFAR and The Global Fund set up to reimburse companies who distribute drugs for disease such as HIV and malaria. I believe I can help Rx access these funds."
Pursley, who has experience marketing drugs in Africa, sees huge growth ahead for the continent. "Once the global recession lifts, I believe that Rx for Africa has the potential to dominate the sub-Saharan region of Africa, which includes Ethiopia and several neighboring countries with aggregate populations in the hundreds of millions. I believe that I can assist Rx for Africa in the launching of its HIV medications and in helping to identify a continuously updated list of the most current medication regimens to pursue as potential new products.
Mr. Pursley will also lead Rx for Africa's efforts to find US and European partners who will use Rx for Africa's low cost of manufacturing in Ethiopia to their competitive advantage. "When Rx for Africa, Inc.'s wholly-owned subsidiary's manufacturing facilities are approved by the US FDA, it should be relatively easy to find a US marketing partner in the States. Rx's cost of goods are spectacularly low and give it a competitive advantage over even India and China."
Dr. Mulugetta Bezzabeh, Chairman and CEO of Rx for Africa, Inc. commented, "We are excited about working with Mr. Pursley. His background in marketing drugs for HIV-AIDS and other diseases that have a major impact in Africa will give us tremendous insight into our task ahead."
Rx for Africa plans a conference call with investors and analysts on June 1, 2009, when Dr. Bezzabeh and Mr. Pursley will update investors on their efforts
Rx for Africa Inc. Signs Letter of Intent for Strategic Alliance with Rusan Pharma Ltd. of India
On Monday June 8th, 2009
NEW YORK, June 8 /PRNewswire-FirstCall/ -- Rx for Africa, Inc. announced today the signing of a letter of intent for a strategic alliance with Rusan Pharma, Ltd., of Mumbai, India. The alliance commences immediately, with Rusan providing Rx for Africa Inc. the tuberculosis (TB) drug, "RUCOX-4" (four drug combination) as per the recommended dosage form of the World Health Organization (WHO), which is also approved by the Ethiopian Ministry of Health and already marketed in some CIS & African countries. Per capita the highest number of deaths and the highest mortality from TB in the world are in Sub-Saharan Africa. "Tuberculosis is a huge problem in our region," said Dr. Mulugetta Bezzabeh, CEO of Rx for Africa, "and RUCOX-4 is an important addition to our product line. We expect significant revenue and profit to be derived from marketing it."
In addition, the agreement also maps out a strategy in which Rx Africa (Ethiopia) PLC will market Rusan Pharma's 202 drugs in Ethiopia, and other sub-Saharan African countries. Importantly, Rusan will assist Rx in developing anti-malarials and HIV medications for these markets, and will assist us to start manufacturing their whole list of drugs in our Ethiopian facilities. Dr. Navin Saxena, Chairman of Rusan Pharma, Ltd. commented, "Rusan is pleased to enter into strategic alliance with Rx for Africa. Ethiopia is a big market with significant potential for growth in the area of Tuberculosis, HIV AIDS & Malaria products. Rusan has the capability to develop various drug delivery systems besides the conventional dosage forms and will use its expertise to bring these to the market in short time."
Rx for Africa's Company Website: http://www.rxforafrica.com
Rusan Pharma Ltd. of India's Company Website: http://www.rusanpharma.com/