Chromium picolinate the next calcium??? Read below...
MSGI's NXXI up today on CEO hire and bullish comments. I agree that this one could really take off as their high margin proprietary products find customers in the likes of Walmart, CVS, Rite Aid etc...My only concern would be that 1. new studies would show chromium picolinate (Diachrome, Chromax) not as effective in treating diabetes as previous studies had, or 2. other compounds of chromium picolinate not under NXXI's patent protection became more popular (either by being more effective or less expense to consumers). Nevertheless, NXXI is my favorite zipcoder at the moment. Thanks to MSGI for mentioning it. Anyone else like its potential?
Paul Intlekofer Elected CEO of Nutrition 21
Wednesday April 26, 1:47 pm ET
PURCHASE, N.Y.--(BUSINESS WIRE)--April 26, 2006--Nutrition 21, Inc., (NASDAQ: NXXI - News) today announced that its Board of Directors has elected Paul Intlekofer as president and chief executive officer. Mr. Intlekofer has been serving as chief financial officer and senior vice president of corporate development since January 2003 and most recently was elected chief operating officer in November 2005.
"Paul Intlekofer's proven leadership and strategic vision have been the driving force behind the company's current transition toward becoming a supplier of branded finished products addressing therapeutic markets," said John Gutfreund, Chairman of the Board. "Mr. Intlekofer possesses a unique mix of strategic vision, passion and operational discipline that has served and will continue to serve Nutrition 21 well. The Board is confident that Mr. Intlekofer is the right person to realize the potential of Nutrition 21."
"I am honored to be selected CEO," said Intlekofer. "I know first hand that we have great products that address significant and growing markets. Over the past several years we've made a considerable investment in research to clinically validate our proprietary technologies. We recently built out an experienced and talented sales and marketing team to capitalize on these findings. Their contribution and pace of execution gives me great confidence in the long-term future and growth of the company."
Since January of 2006, the Company has secured distribution for its Chromax® chromium picolinate in Wal-Mart, Rite Aid, Albertsons, Kroger and another major drug chain. The Company expects to have full nationwide distribution in these and over 90 percent of food, drug and mass outlets by the end of the summer. The Company is also working with the retailers to create an Insulin Health end-benefit destination on the shelf for chromium picolinate similar to Bone Health for calcium.
"With an aging baby boomer population and the rise of obesity there are tens of millions of adults concerned with their blood sugar and cholesterol levels and their risk for developing heart disease and type 2 diabetes. As a natural solution for managing insulin, Chromax can become an everyday product similar to calcium. In the U.S. alone, calcium accounts for $1 billion in retail stand-alone sales," added Intlekofer.
Nutrition 21 also recently secured a commitment from CVS/pharmacy for Diachrome, a non-prescription nutrient based insulin sensitizer for people with type 2 diabetes. The Company expects to have full nationwide distribution of Diachrome with the major drug chains by the Fall to coincide with the publication of its recently completed study with XLHealth.
"The key to success for Diachrome is to secure endorsement and recommendation from pharmacists and healthcare providers. We've taken considerable steps to substantiate Diachrome's health benefits and the early results indicate that physicians are impressed with Diachrome's efficacy and safety. We have developed an innovative marketing strategy that will leverage the managed care/disease management information infrastructure to communicate the benefits of Diachrome to the healthcare community," said Intlekofer.
