Genmed obtains marketing authorization license for paracetamol in Europe

Genmed Holding Corp. (OTCBB: GENM) is announcing its entry into the European generic drug market with the receipt of its first marketing and distribution license for paracetamol. Also known as acetaminophen, paracetamol is an over-the-counter drug used to treat mild to moderate pain from headaches, backaches, osteoarthritis, and to reduce fever.

Genmed first filed its application dossier for Paracetamol 500mg tablets with the Dutch Medicines Evaluation Board (MEB) in July 2008. The Dutch MEB is a member of the European Medicines Agency which evaluates and monitors the efficiency, risks, and quality of human medicinal products. The submission was done under mutual recognition for the following EU countries; Netherlands, Belgium, Luxembourg, Germany, France, Ireland, and the United Kingdom. The successful receipt of its license allows the Company to market and distribute its generic drugs within these countries. The Company recently received its official marketing authorization license and has been preparing for its first shipments of paracetamol, expected to take place within the first quarter of 2011.

Erwin Bouwens, Genmed's Chief Executive Officer said, "We are extremely excited about this development. Obtaining the license was a very long process and our perseverance has really paid off. We are looking forward now to begin shipping our first orders and moving on to obtaining additional licenses for generic drugs we feel have the appropriate market size and where we believe we can be competitive."