Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today its results for their Diabetes (Metformin) platform being conducted at their research lab at the University of Quebec at Montreal (UQAM).
Spencer Pharmaceutical management is proud to announce that the new lab results obtained for its new proprietary formulation of Metformin, a widely prescribed Diabetes drug, showed outstanding results. "When compared to the existing commercial formulations our tablet showed significant advantages to the incumbent technologies," stated CEO Dr. Max Arella.
Given that Diabetes is the sixth leading cause of death in the US, Spencer Pharmaceutical is well positioned to address the growth of this market with its proprietary "controlled release" technology. The global diabetes market was worth $18.6bn in 2005, which was an 11.5% increase from 2004 sales of $16.6bn.
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