OraSure Technologies Announces Another Distribution Arrangement for OraQuick Rapid HIV Test; Minimum Purchase of Over $5 Million of OraQuick Devices in the First Year
BEAVERTON, Ore.--(BW HealthWire)--Dec. 6, 2000--OraSure Technologies, Inc. (Nasdaq/NM:OSUR) today announced that Edison Africa, its distributor for the OraQuick HIV device in sub-Saharan Africa, signed an agreement with the UCB Group of Brussels, Belgium to act as a distribution agent for this product in the physician and family care markets in that territory.
The initial order of 100,000 units of OraQuick HIV will begin shipping this month to Edison Africa to assist in the early sales process. The distribution agreement with Edison Africa calls for a minimum purchase of over $5 million of OraQuick HIV devices in the first year of the contract with significant increases from that base in future years. A report from UNAIDS in June, 2000 showed that there are almost 25 million people in sub-Saharan Africa infected with HIV, and the vast majority do not know that they are infected.
"The arrangement with UCB that has been completed by Edison Africa should be viewed as a strong addition to the distribution infrastructure that is being developed to support sales of the OraQuick HIV rapid test," said Robert D. Thompson, chief executive officer of OraSure Technologies, Inc. "UCB is already known and well-respected in the physician market of sub-Saharan Africa, and will provide a level of credibility for this new product which we believe will greatly assist in the launch of OraQuick usage in that market."
Mr. Thompson added that "The collaborators in this distribution effort, OraSure Technologies, Edison Africa and the UCB Group recognize the responsibility they have to those who are being devastated by HIV/AIDS and continue their commitment to funding worthwhile causes like the Orphans of AIDS fund in South Africa."
OraSure Technologies is also in negotiations for worldwide distribution rights to OraQuick HIV with other companies, which could provide additional sales capabilities around the world and in the United States market.
The UCB Group is a multi-billion dollar international pharmaceutical and chemical company with distribution activities in various major markets around the world. The UCB Group has a well-established sales presence in the sub-Saharan market with a special emphasis on the physician and family practitioner offices. The UCB sales force has already undergone training in the use of the OraQuick HIV device and will begin selling it to the physician's market in the very near future. The UCB sales effort will complement the activities of Edison Africa, which will focus on the public health and government market, including sales to the Ministry of Defense. Edison Africa has also set up the African AIDS Corporation, which will provide anonymous HIV testing in the workplace by providing the facilities, testing with OraQuick and HIV counseling for employees on a confidential basis.
About OraSure
OraSure Technologies, Inc. develops, manufactures and markets medical devices and diagnostic products for use by public- and private-sector clients, clinical laboratories, physicians' offices and workplace testing. OraSure Technologies is the leading supplier of oral fluid collection devices and assays to the life insurance industry and public health markets for the detection of antibodies to HIV. In addition, the company supplies oral fluid testing solutions for drugs-of-abuse testing. For more information on the company please go to www.orasure.com.
This press release contains forward-looking statements. Actual results could be significantly different. Factors that could affect results include loss of key personnel; failure to comply with regulations of the FDA or other regulatory agencies; obstacles to international marketing of products; loss or impairment of sources of capital; ability to develop product distribution channels; ability to develop new products; development of competing products; market acceptance of oral fluid testing products; and changes in international, federal or state laws or regulations. These factors are discussed more fully in the Securities and Exchange Commission (SEC) filings of OraSure Technologies, including the 10Q and Registration Statement on Form S-4 filed with the SEC on August 31, 2000 and in the Epitope, Inc. Annual Report on Form 10-K for 1999. Although forward-looking statements help to provide complete information about future prospects, readers should keep in mind that forward-looking statements are much less reliable than historical information.
CONTACT:
OraSure Technologies
Charles E. Bergeron, 503/641-6115
www.orasure.com
or
Michelle Sells, 503/641-6115
Investorinfo@orasure.com
