Fero Industries, Inc. announced that they 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 their scheduled order. Merck requested that the Company deliver an additional 20,000 retail packages prior to the end of this month.
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 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. Insulin sensitizers are blood sugar normalizing or euglycemic drugs that help return the blood sugar to the normal range without the risk of low blood sugars.
Sucanon® is currently approved as an Over-The-Counter (OTC) remedy for Type II diabetes by regulatory authorities in Mexico. The drug 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.
Merck S.A. de C.V. has committed a team of more than 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. The expectation is that the commercial launch and sales of Sucanon® in Mexico will begin in early January 2011.
Mexico has one of the largest and fastest growing diabetic populations in the world. It is estimated at 15 percent of the total population. This indicates more than 16 million diagnosed cases of diabetes, up seven fold since 1990. Diabetes is now the leading cause of death in Mexico. It costs the country more than one-third of their total public health care budget each year.
Mr. Kyle Schlosser, President and CEO of Fero Industries, said, “Building and maintaining proper inventory levels are key ingredients to a successful distribution network in a country the size of Mexico. The tabletization and retail packaging of our first delivery to Merck S.A. is a major milestone towards the commercialization of Sucanon®.”
Fero Industries, Inc. focuses on diabetes prevention and treatments. The Company has acquired the rights to Sucanon®. Fero’s strategy is to increase awareness, acceptance, and distribution of Sucanon® worldwide.
For more information visit: www.feroindustries.com