Monster news.....Merck has a minimum commitment to take at least 20,000 one month supply packages of Sucanon every month from FROI.....as soon as Merck got the first delivery from FROI, they doubled their order and asked for another 20,000 this month.
Fero Industries Delivers First Shipment of Retail Packaged Sucanon® to Merck S.A. de C.V.
Fero Industries, Inc. Common Shares (OTCBB:FROI)
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Fero Industries, Inc. (FROI - OTCBB - OTCQB) (the “Company”) is pleased to announce that it has processed and shipped the first delivery of 20,000 retail packages of Sucanon® to Merck S.A. de C.V. for distribution in Mexico. The initial shipment of 20,000 retail packages represents the minimum monthly purchase commitment from Merck S.A. de C.V. for the Mexico market. Each retail package of 60 tablets is the equivalent of a one-month patient supply. Upon receipt of the initial delivery, Merck S.A. de C.V. doubled its scheduled order and requested that the Company deliver an additional 20,000 retail packages prior to the end of this month.
"Building and maintaining proper inventory levels are key ingredients to a successful distribution network in a country the size of Mexico," said Mr. Kyle Schlosser, President and CEO of Fero Industries. "The tabletization and retail packaging of our first delivery to Merck S.A. is a major milestone towards the commercialization of Sucanon®.
Merck S.A. de C.V. has committed a team of over 200 drug sales representatives to a nationwide campaign to increase awareness and acceptance of Sucanon® within the medical and patient communities in Mexico as a safe and effective Type II diabetes remedy. Commercial launch and sales of Sucanon® in Mexico are expected to commence in early January 2011.
Mexico has one of the largest and fastest growing diabetic populations in the world, estimated at 15% of the total population. This indicates over 16 million diagnosed cases of diabetes, up seven fold since 1990. Diabetes is now the leading cause of death in Mexico and costs the country more than one-third of its total public health care budget annually.
Sucanon® is one of only three approved drugs in the $5.6 billion market for a class of diabetic medications called "Insulin Sensitizers". Pre-clinical and clinical studies in show that Sucanon® and other insulin sensitizer’s lower a patient's blood sugar by increasing the muscle, fat and liver’s sensitivity to the body's own naturally produced insulin.
Sucanon® is currently approved as an Over-The-Counter ("OTC") remedy for Type II diabetes by regulatory authorities in Mexico and is distributed under an exclusive agreement with Merck S.A. de C.V. in Mexico. Merck S.A. de C.V. is the Mexico and Latin America sales and marketing organization of German pharmaceutical and chemical giant, Merck KGaA ($9.9 billion in 2009 sales - Frankfurt Stock Exchange: MRK).
For further information
regarding Sucanon®, please visit the Fero Industries Inc. website at www.feroindustries.com.
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