Robert Rieveley, President of Biotech Holdings has announced that installation of pharmaceutic processing equipment required for Sucanon production is currently being completed. "Sucanon production is scheduled to begin within the week; our first production run is for 1.2 million Sucanon tablets, sufficient for 20,000 one-month Sucanon treatment packages.
There are 60 tablets in each one-month treatment regimen," Mr. Rieveley said. "A portion of this initial production is being allocated for marketing purposes, including distribution through symposia for introducing Sucanon to doctors, pharmacists and clinics in Mexico.
The bulk of the first production of tablets however will be shipped for sale by our marketers in Mexico and the start of Sucanon revenues for Biotech," Mr. Rieveley said.
World Health Organization data indicate that over 14% of Mexican adults suffer from Type II Diabetes. With a population of over 110 million, Mexico is one of the largest markets in the world for Type II Diabetes drugs. Biotech Holdings' Sucanon is an insulin-sensitizing drug for treatment of symptoms of Type II Diabetes and a related condition, Impaired Glucose Tolerance.
The drug, in tablet form, improves patients' ability to utilize insulin, the hormone that controls blood sugar levels. Type II Diabetes affects more than 18 million people in North America, over 30 million in Latin America and nearly 200 million worldwide. Biotech Holdings has received regulatory approval for sale of the drug in Mexico and Peru as a treatment of Type II Diabetes symptoms.
Biotech Holdings has also signed distribution agreements for the drug for Chile, Venezuela, Columbia and Argentina and plans to make regulatory applications for Sucanon in these jurisdictions as well as in Brazil.