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Re: Melvin Capital post# 26776

Thursday, 05/06/2010 10:17:25 PM

Thursday, May 06, 2010 10:17:25 PM

Post# of 55136
From Steve via skype...

"We got into this (medical) business 5 yrs ago supplying Medirect Latino with the FDA approved product. Tutamen has been working with Eukare for years. We have a good strong relationship. We then established a connection in Mexico which we mentioned in an earlier PR and tied them up with contracts then started the approval process. It is huge and exhaustive and not cheap.

Johnson & Johnson, Abbot and Roche will be our main competitors. We think there are only 3 other manufacturers approved. We are competing against the big boys. The potential is huge.

The margins are miserable in the US as barriers to entry much lower as the technology is standard, tried and tested. We are only working in Mexico and 3rd world countries because that's where the barriers are high and money can be made. Check out the approvals in Mexico. Our registration number is 01-014-A.

We will report separate medical sales as an individual segment in future financial reporting"


When I do a google search on COFEPRIS + 01-014-A, I found:
http://www.cofepris.gob.mx/wb/cfp/importaciones1

Select Google translate

Lastly, and I wanted to be sure to share so you can enjoy it, too:

"I am pissed off about our stock price - company is way way undervalued again. There is no reason for us not to be trading much higher! I want to get to work on that."