OTTAWA, Ontario, Feb. 25, 2016 /PRNewswire/ -- VMS Rehab Systems Inc. (www.vmsrehabsystemsinc.com) reported today on the current status of a generic drug development program at its majority owned Dutch based pharmaceutical, BioPharmcor BV (www.biopharmcor.com). The Company confirmed that BioPharmcor is in the final stages of development and testing of its generic tadalafil product prior to entering an intensive period of human clinical trials. The clinical trials are intended to demonstrate the bioequivalence of the BioPharmcor generic tadalafil drug against the marketed name brand patented product, to support submissions for market approval in a number of countries.
BioPharmcor's tadalafil is intended as a first line treatment for men suffering from Erectile Dysfunction (ED) and Benign Prostatic Hyperplasia (BPH). It is estimated that the market for ED drug remedies is approximately $4.5 billion worldwide.
A spokesperson for BioPharmcor explains that, "BioPharmcor's generic tadalafil will be sold at significantly lower prices than the approved patented drug, making BioPharmcor's generic drug accessible to a broad constituency of men in global markets who currently cannot afford to pay for the higher priced name brand product."
Amsterdam based BioPharmcor BV, is currently formulating and developing a line of drug products keyed to advancing men's health. The company has two operating subsidiaries, BioPharmcor Sp z .o.o. in Warsaw, Poland and BioPharmcor Inc, in Ottawa, Canada.
VMS Rehab Systems Inc. was established as a Canadian incorporated company in 1998. In addition to controlling BioPharmcor BV, VMS Rehab Systems Inc. has been active in the home health market in North America for the past 18 years. The company operates through its office in Ottawa and affiliated BioPharmcor offices in Amsterdam, The Netherlands and Warsaw, Poland.
The shares of VMS Rehab Systems Inc. are quoted on the OTC Market 'pink current' symbol: VRSYF.
FORWARD-LOOKING INFORMATION : 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 here.
SOURCE VMS Rehab Systems Inc.