SAN DIEGO-Adamis Pharmaceuticals Corporation (OTCBB: ADMP), a commercial-stage specialty pharmaceutical company, announced the launch and shipment of its pre-filled epinephrine syringe (PFS) (Epinephrine Injection USP 1:1000) to fulfill its initial orders. Epinephrine is utilized for the treatment of extreme acute allergic reactions (anaphylaxis). The epinephrine market is segmented into four different types of allergies, the most common being food and insect venom. Based on initial orders, unit sales projections for the Epi PFS, and anticipated expenses, Adamis’ management predicts the company will reach bottom-line profitability within the first 12 months after the date of launch. Rick Aloi, the President of Adamis Labs, stated, “I believe our pre-filled epinephrine syringe is a low cost, reliable alternative to existing product offerings. We think that with this niche play we will quickly gain sales traction within the $200M epinephrine syringe market.“ Mr. Aloi is knowledgeable concerning the epinephrine market, having played a major role in launching the EpiPen® while Director of Sales for Center Laboratories.
CEO Dennis J. Carlo, Ph.D., has a long history of leadership in the biotech and pharmaceutical space, including having been named “Biotechnology 1991 Entrepreneur of the Year” by Ernst & Young. He is considered to be one of the founding fathers of biotechnology in San Diego. He has held key positions in publicly traded companies such as Merck, Hybritech, and The Immune Response Corporation. Dr. Carlo stated, “As someone who managed one of the top performing NASDAQ-traded biotech companies in the ‘90’s, I understand the underlying fundamentals required to create shareholder value. In today’s market, obtaining early profitability will differentiate Adamis Pharmaceuticals from other companies. I believe this will maximize shareholder value, and also will provide the fuel for further development of our unique Specialty Pharmaceutical and proprietary Biotech products.”
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