Bioniche Life Sciences Inc. Discovers a Counterfeit Equine Product
BELLEVILLE, ON, Sept. 20, 2012 /PRNewswire/ - Bioniche Life Sciences Inc. (TSX: BNC) (ASX: BNC), a research-based, technology-driven Canadian biopharmaceutical company, today announced that one of its equine products - HIPPIRONTM 1000 - has been counterfeited, and was discovered being sold via an Internet website. Regulatory authorities and veterinarian customers have been advised of this situation, along with the elements of the counterfeited product that clearly distinguish it from legitimate HIPPIRON™ 1000.
HIPPIRON™ 1000 from Bioniche fully complies with regulatory standards and is safe for use as recommended. Bioniche sells this injectable iron-sucrose product exclusively to veterinarians and it is the only licensed product of its kind available for veterinary use in Canada.
Any veterinarians or veterinary clients with questions about the integrity of the HIPPIRON™ 1000 in their possession should contact:
Dr. Duncan Hockley
Director, Veterinary Services
Bioniche Animal Health
1-800-265-5464 ext. 1403
"Bioniche is working with the investigating authorities to ensure that no damage results from this counterfeit version of our product," said Andrew Grant, President of Bioniche Animal Health (Global). "This type of illegal activity cannot be tolerated. Bioniche invests heavily in quality control measures to ensure that only high quality, regulatory compliant products are sold to veterinarians." Bioniche plans to prosecute any individual involved in the manufacturing, marketing, and/or labelling of counterfeited product.
About HIPPIRONTM 1000
HIPPIRONTM 1000 is an iron-sucrose product for horses that is administered by I.V. injection. It is widely used to treat iron deficiency (equine anaemia). It has been registered with Health Canada and meets all regulatory guidelines for manufacture, testing, and quality assurance. More than one million doses have been administered to horses since the product was launched with no adverse reactions reported. The product is sold exclusively to veterinarians.
About Bioniche Life Sciences Inc.
Bioniche Life Sciences Inc. is a research-based, technology-driven Canadian biopharmaceutical company focused on the discovery, development, manufacturing, and marketing of proprietary and innovative products for human and animal health markets worldwide. The fully-integrated company employs more than 200 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company's primary goal is to develop and commercialize products that advance human or animal health and increase shareholder value.
Bioniche Animal Health develops, manufactures and markets veterinary biopharmaceutical products worldwide. In North America, it has development, manufacturing and marketing facilities in Belleville, Ontario, Canada, Athens, Georgia, U.S.A. and Pullman, Washington, U.S.A. In Australia, business is conducted from two sites: Sydney, New South Wales, where sales and marketing, customer support and technical service are located; and Armidale, New South Wales, where research, development and manufacturing facilities are located.
For more information, please visit www.Bioniche.com.
Except for historical information, this news release may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process, and other risks detailed from time to time in the Company's ongoing quarterly and annual reporting.
SOURCE Bioniche Life Sciences Inc.