Milestone Scientific Grants Sinopharm Exclusive Distribution and Marketing Rights...
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Milestone Scientific Grants Sinopharm Exclusive Distribution and Marketing
Rights to STA System in China
China's Largest Distributor of Medical and Dental Products to Market
Milestone's Award-Winning Computer-Controlled Local Anesthetic Delivery System
to China's Dental Industry
LIVINGSTON, N.J., April 29 /PRNewswire-FirstCall/ -- Milestone Scientific Inc.
(OTC Bulletin Board: MLSS), the recognized leader in advanced injection
technologies, today announced that it has granted China National Medicines
Corporation, d/b/a Sinopharm, exclusive distribution and marketing rights of
the award-winning STA Single Tooth Anesthesia System(TM) (STA System) in
China. Traded on the Shanghai Stock Exchange (SHA:600511), Sinopharm is
China's largest domestic manufacturer, distributor and marketer of
pharmaceuticals and importer of medical devices, and the country's largest
domestic distributor of dental anesthetic carpules to the Chinese dental
industry.
The deal paves the way for Milestone's Computer-Controlled Local Anesthetic
Delivery (C-CLAD) technologies to reach progressive oral health practitioners
in China through Sinopharm's extensive medical and dental distribution
network. According to Global Industry Analysts, Inc., one of the world's
largest market research publishers, "Rapid growth in living standards has
induced greater realization about the quality of medical and dental services
in countries such as India and China. Consequently, these countries are
exhibiting soaring demand for modern and sophisticated technology and
equipment in the dental market." Market research firm Freedonia also notes
that "demand for dental products in China is expected to climb 11% per year
through 2012 to 21.5 billion yuan ($3.15 billion U.S. dollars), driven by the
increasing number of Chinese who are using dental products to improve their
appearance and the growing popularity of professional dental care."
Leonard Osser, Chairman and interim CEO of Milestone, stated, "An important
factor of Milestone's long term success is teaming with the right distribution
partners who are capable of promoting rapid market penetration for our
advanced injection technologies in key geographic regions around the world.
Considering that China represents one of the most significant growth markets
for the STA System, our efforts to identify an ideal partner in that global
region has been especially pronounced. As a result, we are very proud to team
with Sinopharm, one of China's noted healthcare leaders, as our exclusive
supplier of the STA System and related ancillary handpieces in China and look
forward to working closely with them to help establish our technologies as the
gold standard for dental injections in the country."
The state-of-the-art STA System is a computer-controlled, pressure-sensitive
injection system, which provides dentists with audible and visual signals as
to in-tissue pressure and needle location. Milestone's latest achievement in
C-CLAD makes the injection process more comfortable for both dentists and
patients and allows for the painless delivery of local anesthetic. Marketed
worldwide by Milestone's growing global distributor network to dental
practitioners for the painless administration of all dental injections, the
STA System is uniquely capable of predictably and more comfortably
administering "Single Tooth Anesthesia" into the Periodontal Intraligamentary
(PDL) space, something never before possible using conventional techniques.
Established in 1999 by China National Pharmaceutical Group Corporation,
China's largest pharmaceutical group, China National Medicine Corporation
Ltd.'s (Sinopharm) core businesses are investment, import and export, and
domestic distribution in pharmaceutical and relevant sections, including
pharmaceutical R&D, manufacturing, distribution, consultation, bonded
warehousing and other value-added services such as overseas pharmaceutical
projects and domestic wholesale of pharmaceuticals, medical instruments and
equipments. Sinopharm keeps the country's medicine reserve and plays an
important role in disaster and emergency relief and disease and plague
prevention.
About Milestone Scientific Inc.
Headquartered in Livingston, New Jersey, Milestone Scientific is engaged in
pioneering proprietary, highly innovative technological solutions for the
medical and dental markets. Central to the Company's IP platform and product
development strategy is its patented CompuFlo(R) technology for the improved
and painless delivery of local anesthetic. Specifically, CompuFlo is a
computer-controlled, pressure sensitive infusion, perfusion, suffusion and
aspiration technology, which provides real-time readouts of pressures, fluid
densities and flow rates, enabling the advanced delivery and removal of a wide
array of fluids. The STASingle Tooth Anesthesia System(TM), a
computer-controlled local anesthesia delivery system, uses this technology to
provide dentists with audible and visual signals as to in-tissue pressure.
Milestone's existing painless injection systems are currently sold in 25
countries. For more information on these and other innovative Milestone
products, please visit the Company's web site found at www.milesci.com and
www.STAis4U.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding the timing
and financial impact of the Milestone's ability to implement its business
plan, expected revenues and future success. These statements involve a number
of risks and uncertainties and are based on assumptions involving judgments
with respect to future economic, competitive and market conditions and future
business decisions, all of which are difficult or impossible to predict
accurately and many of which are beyond Milestone's control. Some of the
important factors that could cause actual results to differ materially from
those indicated by the forward-looking statements are general economic
conditions, failure to achieve expected revenue growth, changes in our
operating expenses, adverse patent rulings, FDA or legal developments,
competitive pressures, changes in customer and market requirements and
standards, and the risk factors detailed from time to time in Milestone's
periodic filings with the Securities and Exchange Commission, including
without limitation, Milestone's Annual Report for the year ended December 31,
2008. The forward looking-statements in this press release are based upon
management's reasonable belief as of the date hereof. Milestone undertakes no
obligation to revise or update publicly any forward-looking statements for any
reason.
FOR MORE INFORMATION, PLEASE CONTACT:
Elite Financial Communications Group
Dodi Handy, President and CEO
For Media Inquiries: Tiffany Korkis or Kathy Addison, Directors,
Elite Media Group
407-585-1080 or via email at mlss@efcg.net
SOURCE Milestone Scientific Inc.
Dodi Handy, President and CEO of Elite Financial Communications Group, or
Media, Tiffany Korkis or Kathy Addison, Directors, Elite Media Group, all for
Milestone Scientific Inc., +1-407-585-1080, mlss@efcg.net
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