OTTAWA, Ontario, July 6, 2016 /PRNewswire/ -- In advance of European investor meetings for its Dutch based BioPharmcor BV generic drug unit, VMS Rehab Systems, Inc. (www.vmsrehabsystemsinc.com) is providing guidance on forecasted revenues and product development expenditures for the period 2016-2022.
BioPharmcor BV (www.biopharmcor.com) has recently launched a Private Placement of its voting A shares in Central Europe to be followed by a placement of SME Bonds on or before the 4th quarter 2016. It is intended that the Bonds will be floated on the Alternext Brussels Exchange. The Company will be addressing European investors at a series of investor meetings to be held throughout the summer and fall, beginning with a meeting scheduled for Monday, July 11th in Warsaw, Poland.
According to Michael S. Wexler, VMS and BioPharmcor Group Board Chairman, "We anticipate an excellent response from European investors for our BioPharmcor offerings. The selection of generic tadalafil as our initial pipeline product is strategic and will follow as early as possible on the patent expiration of the name brand reference product. Excluding any successful acquisition activity, our preliminary sales forecast through 2022 yields aggregate organic sales of Euro 34 million (US $38 million). We anticipate that year on year sales will grow sharply throughout the decade as generic tadalafil usage continues to rise in all markets worldwide. We must keep in mind that BioPharmcor will be offering its generic tadalafil in several dosages and is a first line treatment for both Erectile Dysfunction (ED) and Benign Prostatic Hyperplasia (BPH)."
Adds Mr. Wexler, "Equally important to our aggressive market strategy in building out tadalafil sales following regulatory approvals, is our commitment to fortifying our revenue streams as we enter the commercial marketplace. To this end, subject to the success of our funding programs in the months and years ahead, we are committed to a robust expenditure on new generic drug formulation and product development of approximately Euro 2 million (US $2.2 million) per year through 2022. As recently indicated, we will be providing the marketplace with further guidance on new product strategies during the 3rd quarter."
Established in 1998, VMS Rehab Systems, Inc., is headquartered in Ottawa, Canada and maintains affiliate offices in Amsterdam, The Netherlands and Warsaw, Poland. The shares of VMS Rehab Systems, Inc. are listed on the US OTC Pink Current Market (Symbol: VRSYF).
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "will" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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SOURCE VMS Rehab Systems, Inc.