Rubco, there weren't 20 drugs and the only one they focused on was Nicosan. They stopped selling XetaPharm products quite a while ago. Keep in mind, below is the history of Xechem from the 2006 annual report, you'll notice that subsidiaries were formed in the 90s as the company was "developing". As your teachers and father probably also told you, sometimes in business you try things, find out they don't work as expected and you try something else. Hence, XetaPharm, paclitaxol, then Nicosan. The subsidiaries were formed to help with Xechem expansion, China to have access to more potential natural drugs, UK to help expand Nicosan into the EU and India was the first because that's were the family is from.
Xechem International, Inc. (“Xechem”), a Delaware corporation formed in 1994, is a holding company which owns all of the capital stock of Xechem, Inc., a development stage biopharmaceutical company engaged in the research, development and production of niche generic and proprietary drugs from natural sources. Xechem, Inc. was a subsidiary of LyphoMed, Inc. (later known as Fujisawa/LyphoMed, Inc.), a publicly traded company before it was acquired with all of its assets by Dr. Ramesh C. Pandey in 1990. Xechem Laboratories, Inc. (formed in 1993), XetaPharm, Inc. (formed in 1996), Xechem (India) Pvt. Ltd. (acquired in 1996), and Xechem UK Ltd. (formed in 2005) are all our subsidiaries. Xechem Pharmaceutical China Ltd. (formed in 2000) is an inactive affiliate. Xechem Pharmaceuticals Nigeria Limited (formed in 2002) is currently wholly-owned by us. Xechem’s principal product under development is NICOSAN™/HEMOXIN™ which has shown efficacy in the prophylactic management of Sickle Cell Disease (SCD). The development and production of NICOSAN™/HEMOXIN™ at this time is being conducted through Xechem Nigeria, Xechem Research Laboratories of Xechem, Inc. and Children’s Hospital of Philadelphia (CHOP).
Have a closer look at Apple's history (I'm a very devote Macintosh user, software consultant and programmer from the late 80s, this is as area I'm pretty familiar with), they've had their share of colossal failures, the Newton, Lisa, eWorld, the first Mac Portable (which weighed about 16 pounds and had a price tag of over $6,000), MacTV, etc. As they decided those products weren't going to make money, they shelved them and moved on, but Apple has a very aggressive R&D department (have a look a the many websites devoted to finding out about their newest, unreleased products or updates to current products such as macrumors.com). My point is that you try until you succeed and as we all know, Dr. Pandey got Nicosan after an initial meeting at Rutgers with a group of Nigerians in 2001. After a lot of negotiations, he got the license and then worked on getting the approvals to sell in Nigeria, that all happened in 2006. They started selling Nicosan in July of 2006 and had sales of $130,000 for Q1, had a manufacturing facility being built that was to be finished in Q3 of 2007. We don't know what sales were in Q2, Q3 or Q4 of 07 were, but in Q1 of this year they estimate sales of $350,000 and Q2 of $185,000. The $350,000 are prepurchases, so that means they have boxes sitting on a shelf someplace to be dispenses over however much time. We have no idea when they'll order again, but we can assume it'll be soon if they are getting the product out and people are using it. In Q2 they are back to normal sales, so in five quarters sales have gone up an estimated 43%. That seems pretty weak for a drug that has no competition in a country with 4,000,000 or more potential patients. It's a drug they have to continue taking, so they haven't adding more than 1,000 new patients in 15 months. Sales of $185,000 work out to an roughly $62,000 a month or 3,100 patients (using $20/bottle). Sales of $130,000 was roughly 2,200 patients.
Anyway, with all due respect to stations, there weren't 20 drugs being worked on, but yes, there were other products in the pipeline to be developed as money was available. Nicosan was the focus for many years and that's all they were worried about, everything else was prior to Nicosan coming into the picture and for the most part was put aside so they could build the company around it.
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