Michelex (PINKSHEETS: MLXO) Announces Successful Registration of Pristine Pharma Corporation's Manufacturing Facility With the US FDA
NEW YORK, NY--(Marketwire - February 17, 2011) - Michelex Corporation (PINKSHEETS: MLXO) ("Michelex") President Mr. Albert Laclé is pleased to announce the successful registration of Pristine Pharma Corporation's ("Pristine") newly constructed manufacturing facility with the United States Food and Drug Administration ("FDA"). Having met cGMP (Current Good Manufacturing Practices) requirements, Pristine commenced operations and will deliver, for export, the first lot of its products in February.
The FDA registration information can be searched by name on the FDA website:
http://www.accessdata.fda.gov/scripts/cder/drls/default.cfm
During the third week of January 2011, Mr. Venkat Kakani, CEO of Pristine, provided a tour of the Massena, NY, facility to Mr. Maxim Pantchenko, President of the International Trade Association of America, an export distributor of OTC pharmaceuticals to Russia. ITA placed orders with Pristine for two products worth over $2.0 million, and a contract for four more products for near term fulfillment is under negotiation. During his visit to Pristine's facility, Mr. Pantchenko confirmed that ITA will source its liquid OTC pharmaceuticals exclusively from Pristine. Press coverage of Mr. Pantchenko's visit is available at the following:
http://www.mpcourier.com/article/20110122/DCO01/301229939
http://www.watertowndailytimes.com/article/20110122/NEWS05/301229954
http://www.wwnytv.com/news/local/Pharmaceutical-Company-Getting-Ready-To-Do-Business-In-Massena-114385734.html
Having successfully completed registration with the FDA, Pristine is currently fulfilling existing orders. As it does so, the company is working to expand its operations, its product portfolio, and its customer base.
MICHELEX
Michelex Corporation, founded in 1999, is currently comprised of subsidiaries with a diversified portfolio of businesses in the areas of financial services and pharmaceutical drug manufacturing and distribution.
PRISTINE
Pristine Pharma Corporation was founded in 2009 and became a wholly owned subsidiary of the Michelex Corp. in July 2010. Pristine owns pharmaceutical manufacturing assets worth $3.5 million for the production and packaging of both liquid and solid dose medicines. Pristine supplies National Brand Equivalents of Over The Counter medicines to national and international wholesalers and, to retailers in store brands, private-label, and its own brand, "NUMED."
Venkat Kakani
Mr. Kakani, CEO of Pristine Pharma Corp., has been a part of the pharmaceutical industry for over 18 years. In 1991, he earned an M.B.A. from Rutgers University, Graduate School of Management, with major in Finance and International Trade. Prior to that, he earned an M.S. (Ag) in Genetics (1985) and a B.S. (Ag) (1982) from Andhra Pradesh Agricultural University in India.
Albert Laclé
Mr. Laclé, President of Michelex, is a seasoned sales and marketing executive who trained with industry giants Intercontinental Hotels, Holiday Inn Corporation, and Hilton Hotels. He was Vice President of Sales and Marketing for the Sands Casino Hotel, Senior Vice President of Marketing with Inter-Hotels Hospitality Services, and Executive Director of Marketing for the Trump Taj Mahal in Atlantic City. Mr. Laclé studied marketing at Cornell University and holds a degree in Hotel Management. He speaks fluent English, Spanish, Dutch, and Papiamento.
More information about Michelex Corp. and Pristine Pharma Corp. is available at the following:
http://www.michelex.com
http://www.pristinepharmacorp.com
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation reform Act of 1995. These statements and the matters discussed in this news release are forward-looking statements that involve a number of important risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements, including, but not limited to, the acquired companies' extremely limited operating history, the performance of the acquired companies, as well as other economic, competitive and technological factors involving the acquired companies' operations, markets, services, products and prices, uncertainties related to the acquired companies' access to additional capital, the ability of the acquired companies to enter into contracts with new customers, and dependency on key management.
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