QualityStocks would like to highlight Generex Biotechnology Corp. (NASDAQ: GNBT). The company is engaged in the research, development and commercialization of drug delivery systems and technologies. Generex has developed a proprietary platform technology for the delivery of drugs into the human body through the oral cavity (with no deposit in the lungs). The Company's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using the Company's proprietary RapidMist(tm) device.
In the company’s news yesterday,
Generex Biotechnology Corp. announced that it has signed a distribution agreement with Butler Animal Health Supply LLC, the nation’s leading distributor of companion animal health supplies to veterinarians. As terms of the agreement, Butler will distribute Glucose RapidSpray, the company’s proprietary glucose spray product, in the U.S. animal health industry.
Today, there are over 72 million pet dogs and nearly 82 million pet cats in the United States. Glucose RapidSpray provides a user-friendly option for pet owners to react effectively to their pets’ needs. The liquid spray is absorbed by the inner lining of the mouth without any chewing or swallowing. Glucose (sugar) is the fuel that dogs and cats burn for energy and is necessary for optimum functioning of brain and muscle tissues.
“Although originally designed for people seeking additional glucose in their diets, we are pleased that the product has additional applications in the animal health industry,” said Rose Perri, the Company’s Chief Operating Officer. “We extend credit to our Business Development and Marketing team for their ingenuity in seeking other viable markets for our product pipeline.”
The global animal health market was worth $17.4 billion in 2005 and is forecasted to reach $21.7 billion in 2010. The United States accounts for 36% of the global market. According to the Pet Product Manufacturers Association, U.S. consumers spent more than $40 billion on their pets in 2007 and Marketreserach.com has indicated that, during the period 1995 - 2005, pet spending tripled for households with incomes exceeding $70,000.
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