Star Scientific, Inc. (Nasdaq: STSI) announced today that the company plans to introduce the CigRx(TM) nutraceutical product developed by its subsidiary, Rock Creek Pharmaceuticals, for worldwide marketing and sales in partnership with inVentiv Health, Inc. (Nasdaq: VTIV). inVentiv Health offers a complete range of commercialization solutions for every stage of the product lifecycle, in a range of healthcare categories that includes nutraceutical products. The company has marketing and sales capabilities in 40 countries around the globe.
Jonnie R. Williams, Star's CEO, stated, "Cigarette smoking is the leading cause of preventable death in the world. However, the globa lcigarette business, which now exceeds $300 billion, continues to grow. Our
goal is to make CigRx(TM) available to adult smokers worldwide who wish to maintain a nicotine-free metabolism." Rock Creek Pharmaceuticals will be responsible for the manufacturing of CigRx(TM), and the company anticipates that inVentiv Health will be involved in the product marketing and sales, with a focus on product education for physicians and health care professionals, as well as consumers.
(Logo: http://www.newscom.com/cgi-bin/prnh/20090317/STARSCIENTIFICLOGO )
Star also announced that it has retained McColl Partners LLC to advise the company on a range of corporate finance matters, including the assessment of strategic initiatives involving new products. McColl Partners, an independent investment banking firm co-founded by Hugh McColl, former Chairman of Bank of America, specializes in the needs of management and owners of middle-market companies. The firm offers strategic advice and assistance to its clients regarding mergers and acquisitions.
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Star Scientific, Inc. and its consolidated subsidiaries (collectively, the
"Company") has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends" and similar expressions. These statements
reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could
cause the Company's actual results, performance or achievements to differ materially from those expressed in, or implied by, such statements. These risks, uncertainties and contingencies include, without limitation, the
challenges inherent in new product development initiatives, the uncertainties inherent in the progress of scientific research, the Company's ability to raise additional capital in the future necessary to maintain its business, potential disputes concerning the Company's intellectual property, risks associated with litigation regarding such intellectual property, potential delays in obtaining any necessary government approvals of the Company's low-TSNA tobacco products, market acceptance of the Company's new smokeless tobacco products, competition from companies with greater resources than the Company, the Company's decision not to join the Master Settlement Agreement ("MSA"), the effect of state statutes adopted under the MSA, and the Company's dependence on key employees and on its strategic relationships with Brown & Williamson Tobacco Corporation in light of its combination with RJ Reynolds Tobacco Company, Inc. The impact of potential litigation, if initiated against or by individual states that have adopted the MSA, could be materially adverse to the Company.
Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. See additional discussion under "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2008, as filed with the SEC on March 16, 2009, and other factors detailed from time to time in the Company's other filings with the SEC, available at www.sec.gov . This information is current as of this date. The Company undertakes no obligation to update or advise upon any such forward-looking statements to reflect events or circumstances after the date of this press release or to
reflect the occurrence of unanticipated events.
About Rock Creek Pharmaceuticals
Rock Creek Pharmaceuticals develops pharmaceutical products for treatment of addiction and other neurological disorders, and other products such as nutraceuticals. The company supports third-party academic, educational and therapeutic advances in both these areas of research. Rock Creek has scientific and research offices in Gloucester, MA and a regulatory office in Washington, DC.
About Star Scientific
Star Scientific is a technology-oriented tobacco company with a toxin reduction mission. It is engaged in the development of dissolvable smokeless tobacco products that deliver fewer carcinogenic toxins (principally tobacco specific nitrosamines, or TSNAs), through the utilization of the innovative StarCured(R) tobacco curing technology, and in sublicensing that technology to others. Star Scientific has a Corporate and Sales Office in Petersburg, VA, an Executive, Scientific & Regulatory Affairs office in Bethesda, MD, and manufacturing facilities in Chase City, VA. For more information, visit http://www.starscientific.com
About inVentiv Health
inVentiv Health, Inc. (Nasdaq: VTIV) is an insights-driven global healthcare leader that provides dynamic solutions to deliver customer and patient success. inVentiv delivers its customized clinical, sales, marketing
and communications solutions through its four core business segments: inVentiv Clinical, inVentiv Communications, inVentiv Commercial, and inVentiv Patient Outcomes. inVentiv Health's client roster is comprised of more than 350 leading pharmaceutical, biotech, life sciences and healthcare payor companies, including all top 20 global pharmaceutical manufacturers. For more information, visit www.inventivhealth.com
Saturday, November 21, 2009
Friday, November 13, 2009
THAIBEV SET TO FACE SOBERING COMPETITION
Thai Beverage, manufacturer of Chang beer, expects to face big challenges amid fiercer competition in the beer market next year.
The Asean Free Trade Agreement, which will eliminate tariffs on beer imported from fellow Asean members from next January 1, will afford foreign brews easier access to the Thai market.
Chang also plans to regain market leadership within two years through an aggressive marketing campaign featuring sports and music activities.
Thai Beverage Marketing deputy managing director Charlie Jitcharoongphorn yesterday said some serious competition was expected in the beer market next year, but that the company was formulating a marketing strategy to meet it.
ThaiBev has earmarked Bt100 million for sports and music activities and produced a Chang television commercial for its "Khon Thai Huajai Deaw Khun" campaign, to air for six months starting today.
Charlie said this was ThaiBev's first step towards overcoming the competition.
Chang lost its leadership to Singha beer two years ago. Singha Co recently said its beer brands - Singh and Leo - enjoyed a combined market share of 60 per cent. Charlie said ThaiBev's Chang, Federbrau and Archa controlled the rest of the market.
The company has targeted a 5-percentage-point increase in its market share by the end of next year.
The economy-beer segment, which represents 80 per cent of the Bt100-billion beer market, is expected to grow 4-5 per cent next year. Sales of Chang have so far showed flat year-on-year growth in that market.
Charlie said Chang's "Khon Thai Huajai Deaw Khun" campaign was aimed at supporting the revolutionary new look of Chang beer products, with Chang Classic, Chang Draught and Chang Light given a clearer image.
The company expects 80 per cent of Chang drinkers to learn about the campaign within a month through different media channels - billboards, television and radio commercials and print and online media.
Chang will also organise 1,000 concerts and other musical performances at various venues next year.
The Asean Free Trade Agreement, which will eliminate tariffs on beer imported from fellow Asean members from next January 1, will afford foreign brews easier access to the Thai market.
Chang also plans to regain market leadership within two years through an aggressive marketing campaign featuring sports and music activities.
Thai Beverage Marketing deputy managing director Charlie Jitcharoongphorn yesterday said some serious competition was expected in the beer market next year, but that the company was formulating a marketing strategy to meet it.
ThaiBev has earmarked Bt100 million for sports and music activities and produced a Chang television commercial for its "Khon Thai Huajai Deaw Khun" campaign, to air for six months starting today.
Charlie said this was ThaiBev's first step towards overcoming the competition.
Chang lost its leadership to Singha beer two years ago. Singha Co recently said its beer brands - Singh and Leo - enjoyed a combined market share of 60 per cent. Charlie said ThaiBev's Chang, Federbrau and Archa controlled the rest of the market.
The company has targeted a 5-percentage-point increase in its market share by the end of next year.
The economy-beer segment, which represents 80 per cent of the Bt100-billion beer market, is expected to grow 4-5 per cent next year. Sales of Chang have so far showed flat year-on-year growth in that market.
Charlie said Chang's "Khon Thai Huajai Deaw Khun" campaign was aimed at supporting the revolutionary new look of Chang beer products, with Chang Classic, Chang Draught and Chang Light given a clearer image.
The company expects 80 per cent of Chang drinkers to learn about the campaign within a month through different media channels - billboards, television and radio commercials and print and online media.
Chang will also organise 1,000 concerts and other musical performances at various venues next year.
Sunday, November 8, 2009
STILL BREWING IN A DRY LAND
On the walls of the historic Murree brewery, Pakistan's sole producer of beer, hangs a slogan that its owners would wish upon the entire country. "Eat, drink and be Murree'', puns the poster, seemingly produced in the 1970s.
Understandably, making beer and whiskey in a Muslim country, where 97% of the population is officially banned from enjoying your products, has never been an easy business.Non-Muslims are exempt from the ban, but even for them, obtaining a drink can be complicated - some five-star hotels require foreigners to affirm in writing that they are non-Muslims and will be responsible for anything that happens when they are under the influence before they can order a drink.
And amid the upsurge of militant violence of the last two years that has seen the Taliban attacking targets across the country, setting fire to girls' schools and even banning the sale of videos and DVDs, common sense might suggest that the fortunes of this establishment, which celebrates its 150th anniversary next year, might be on the wane. Yet the opposite is happening: Sales are booming - embarrassingly so.
"Sales are good,'' said Isphanyar Bhandara,the brewery's 36-year-old chief executive, "but we don't want to shout about it because that also brings negative publicity and criticism, because this is a Muslim country and yet sales are growing.''
Pervaded by a rich smell of fermenting yeast and equipped with Victorian maturing cellars, the brewery is located in the heart of the military cantonment area of Rawalpindi,the garrison city where 30 people died in a suicide bomb attack early last week. The scenes within the thick stone walls are reminiscent of a British brewery of the remote past. Located opposite the residence of the chief of the army staff, the brewery says it has never received a direct threat from the militants.
Metaphorically speaking , the Murree brewery sits on one of the major fault lines of Pakistan's often contradictory society. While Muslims have been banned from buying or drinking alcohol since 1977, few private social gatherings among the country's political or business elite take place without the lubrication of liquor. A well-established network of bootleggers dealing in both locally produced and smuggled alcohol ensures that, while bars do not exist except for a couple of gloomy premises in five-star hotels, a drink in a private home is never far away.
For an institution such as the brewery,this two-faced attitude towards alcohol has meant several things. Firstly, while Christians,Hindus, Zoroastrians and other non-Muslims officially constitute its customers, there is a private acknowledgement that the overwhelming majority of drinkers are Muslims who work their way through the easily exploited permit system. Non-Muslims and foreigners can acquire an official permit that allows them to buy 30 bottles of beer or a quart of spirits every month. Reports suggest that such permits are easy both to copy and to obtain fraudulently.
At the same time, the brewery and distillery have to operate within a set of cramping rules. They are not allowed to advertise their products, for instance, and they have yet to be given permission to export them. The Islamic Ideology Council of Pakistan, which advises the government on policy issues,has made clear that it believes the export of alcohol abroad would damage the country's international image. The council's secretary,Riaz-ur-Rehman, confirmed:``We cannot allow anyone in the country to be engaged in the trade or production of alcohol.''
Meanwhile the company, which earlier this year produced the Muslim world's first 20-year-old malt, provides the state and federal authorities with about US$1 million (33.4 million baht) a month in taxes and duty.
"Absurd as it sounds, it's true,'' said Mr Bhandara, who is a member of Pakistan's tiny population of Zoroastrians or Parsis and is also, ironically, a teetotaller, even though he is permitted to drink because of his religion. "It's totally hypocritical. I'm talking to the government at the moment about permission to export our beer to Britain [where it would be marketed with the catchphrase `Have a Murree with your curry'], as many Asians in Britain are familiar with our products. Carlsberg were going to brew and sell it in the UK,but then they said the beer market was shrinking. I am saying to them we have a 20%increase in beer sales year-on-year in a Muslim country.''
The Murree Brewery, shares of which are publicly traded on the Pakistan stock exchange in Karachi, was initially established in 1860 among the woods and cooling breezes of the Murree Hills,20 miles north of Islamabad,where the elevation of 1,829 metres was perfect for producing light beer for British colonial troops. Growing demand for its awardwinning products saw the company establish additional breweries in Quetta in 1886 and in Rawalpindi in 1889, the site of the present operation.
On a recent morning, bright with early winter sunshine, Jamshed Iqbal, the company's enthusiastic quality control manager,conducted a tour of the facilities. "Making liquor is easy, but brewing beer is an art,'' he said, describing the challenges of temperature control in a region where the summer mercury can top 45C. Part of his duties include checking the taste of the finished products to ensure consistency. He said he believed the company's "classic'' lager had the best taste. But as a Muslim, was he allowed to taste it? "Just a mouthful,'' he replied.The Independent
"While Muslims have been banned from buying or drinking alcohol since 1977, few private gatherings among the country's political or business elite take place without liquor.
Understandably, making beer and whiskey in a Muslim country, where 97% of the population is officially banned from enjoying your products, has never been an easy business.Non-Muslims are exempt from the ban, but even for them, obtaining a drink can be complicated - some five-star hotels require foreigners to affirm in writing that they are non-Muslims and will be responsible for anything that happens when they are under the influence before they can order a drink.
And amid the upsurge of militant violence of the last two years that has seen the Taliban attacking targets across the country, setting fire to girls' schools and even banning the sale of videos and DVDs, common sense might suggest that the fortunes of this establishment, which celebrates its 150th anniversary next year, might be on the wane. Yet the opposite is happening: Sales are booming - embarrassingly so.
"Sales are good,'' said Isphanyar Bhandara,the brewery's 36-year-old chief executive, "but we don't want to shout about it because that also brings negative publicity and criticism, because this is a Muslim country and yet sales are growing.''
Pervaded by a rich smell of fermenting yeast and equipped with Victorian maturing cellars, the brewery is located in the heart of the military cantonment area of Rawalpindi,the garrison city where 30 people died in a suicide bomb attack early last week. The scenes within the thick stone walls are reminiscent of a British brewery of the remote past. Located opposite the residence of the chief of the army staff, the brewery says it has never received a direct threat from the militants.
Metaphorically speaking , the Murree brewery sits on one of the major fault lines of Pakistan's often contradictory society. While Muslims have been banned from buying or drinking alcohol since 1977, few private social gatherings among the country's political or business elite take place without the lubrication of liquor. A well-established network of bootleggers dealing in both locally produced and smuggled alcohol ensures that, while bars do not exist except for a couple of gloomy premises in five-star hotels, a drink in a private home is never far away.
For an institution such as the brewery,this two-faced attitude towards alcohol has meant several things. Firstly, while Christians,Hindus, Zoroastrians and other non-Muslims officially constitute its customers, there is a private acknowledgement that the overwhelming majority of drinkers are Muslims who work their way through the easily exploited permit system. Non-Muslims and foreigners can acquire an official permit that allows them to buy 30 bottles of beer or a quart of spirits every month. Reports suggest that such permits are easy both to copy and to obtain fraudulently.
At the same time, the brewery and distillery have to operate within a set of cramping rules. They are not allowed to advertise their products, for instance, and they have yet to be given permission to export them. The Islamic Ideology Council of Pakistan, which advises the government on policy issues,has made clear that it believes the export of alcohol abroad would damage the country's international image. The council's secretary,Riaz-ur-Rehman, confirmed:``We cannot allow anyone in the country to be engaged in the trade or production of alcohol.''
Meanwhile the company, which earlier this year produced the Muslim world's first 20-year-old malt, provides the state and federal authorities with about US$1 million (33.4 million baht) a month in taxes and duty.
"Absurd as it sounds, it's true,'' said Mr Bhandara, who is a member of Pakistan's tiny population of Zoroastrians or Parsis and is also, ironically, a teetotaller, even though he is permitted to drink because of his religion. "It's totally hypocritical. I'm talking to the government at the moment about permission to export our beer to Britain [where it would be marketed with the catchphrase `Have a Murree with your curry'], as many Asians in Britain are familiar with our products. Carlsberg were going to brew and sell it in the UK,but then they said the beer market was shrinking. I am saying to them we have a 20%increase in beer sales year-on-year in a Muslim country.''
The Murree Brewery, shares of which are publicly traded on the Pakistan stock exchange in Karachi, was initially established in 1860 among the woods and cooling breezes of the Murree Hills,20 miles north of Islamabad,where the elevation of 1,829 metres was perfect for producing light beer for British colonial troops. Growing demand for its awardwinning products saw the company establish additional breweries in Quetta in 1886 and in Rawalpindi in 1889, the site of the present operation.
On a recent morning, bright with early winter sunshine, Jamshed Iqbal, the company's enthusiastic quality control manager,conducted a tour of the facilities. "Making liquor is easy, but brewing beer is an art,'' he said, describing the challenges of temperature control in a region where the summer mercury can top 45C. Part of his duties include checking the taste of the finished products to ensure consistency. He said he believed the company's "classic'' lager had the best taste. But as a Muslim, was he allowed to taste it? "Just a mouthful,'' he replied.The Independent
"While Muslims have been banned from buying or drinking alcohol since 1977, few private gatherings among the country's political or business elite take place without liquor.
SanMig gets liquor boost
The Philippine conglomerate San Miguel Corp yesterday reported a 24% increase in third-quarter net income,boosted by double-digit revenue growth in its liquor business.
San Miguel, which sells nine out of 10 beers in the Philippines, is likely to benefit from election related spending in the current quarter and early next year ahead of May presidential polls.
Profits at the Philippines' third-largest listed firm have been boosted this year by one-off sales of substantial stakes in key operating units, part of a strategic shift into higher-growth sectors such as power, telecoms and toll roads.
The company earned 97.7 billion pesos ($2.05 billion) from selling a 43% stake in its flagship San Miguel Brewery to Japan's Kirin Holdings and 38.8 billion pesos from selling its domestic beer brands and assets to its brewery unit in April.
San Miguel owns 27% of Manila Electric (Meralco) and controls about 43%with its allies. It wants to take a majority stake to support its entry into telecoms,a venture it set up with partner Qatar Telecommunications Co.
Last week, San Miguel's business partner Henry Sy Jr, son of the Philippines'leading tycoon, offered to buy a Meralco stake held by the Lopez business family for $940 million.
The Lopez family is set to decide this week either to accept the offer from the Sy group or that from another Meralco shareholder, the PLDT group.
San Miguel said in a statement January-September net income was 57 billion pesos, up 173% from a year earlier.
It said net income without one-off items was 7.61 billion pesos in the nine months, up 6% from a year ago.
Stripping out reported first-half net income of 55.6 billion pesos, San Miguel's third-quarter net profit was 1.4 billion pesos compared with 1.13 billion pesos a year earlier, based on Reuters' calculations.
San Miguel, which sells nine out of 10 beers in the Philippines, is likely to benefit from election related spending in the current quarter and early next year ahead of May presidential polls.
Profits at the Philippines' third-largest listed firm have been boosted this year by one-off sales of substantial stakes in key operating units, part of a strategic shift into higher-growth sectors such as power, telecoms and toll roads.
The company earned 97.7 billion pesos ($2.05 billion) from selling a 43% stake in its flagship San Miguel Brewery to Japan's Kirin Holdings and 38.8 billion pesos from selling its domestic beer brands and assets to its brewery unit in April.
San Miguel owns 27% of Manila Electric (Meralco) and controls about 43%with its allies. It wants to take a majority stake to support its entry into telecoms,a venture it set up with partner Qatar Telecommunications Co.
Last week, San Miguel's business partner Henry Sy Jr, son of the Philippines'leading tycoon, offered to buy a Meralco stake held by the Lopez business family for $940 million.
The Lopez family is set to decide this week either to accept the offer from the Sy group or that from another Meralco shareholder, the PLDT group.
San Miguel said in a statement January-September net income was 57 billion pesos, up 173% from a year earlier.
It said net income without one-off items was 7.61 billion pesos in the nine months, up 6% from a year ago.
Stripping out reported first-half net income of 55.6 billion pesos, San Miguel's third-quarter net profit was 1.4 billion pesos compared with 1.13 billion pesos a year earlier, based on Reuters' calculations.
BUSTING THE BYO TABOO
Sommeliers don't like dinners to bring their own wine. Why would they when restaurants may charge more than three times as much as they pay for a bottle?
"the guy who recently bought my 82 Petrus at 3,000 pound ([Bt165,500] did really well because it cost me 2,700 pound to replace," says David Moore, owner of the two-Michelin-star Pied a Terre, in London's Fitzrovia district. "The higher up the wine list you go, the better value you get."
The worst value will be under 30 pound a bottle, Moore says. "For a 5 bottle pound, you're probably going to pay over 15 pound when we add [tax] in.
Some London restaurants charge as much as 50 pound a bottle for corkage and still say they don't like bring-your-own.
"As a rule of thumb, wine, water and soft-drink sales are about one-third of revenue, so it's an incredibly important part of the busines," says Des Gunewardena, chairman and chief executive of D&D London, the owners of Coq d'Argent and Plateau.
Over at Arbutus, Will Smith, who co-owns the Soho eatery and its Mayfair sister, Wild Honey, says he charges 20 pound.
"It's rare - not once a month between the two restaurants - and I'd prefer not to do it," he says. "But I'm delighted people are dining with us and it's about good will and being hospitable. They will usually have something else from us anyway, so there's always a sale in there somewhere."
Hugues Lepin, head sommelier at Bleeding Heart, says he usually charges between 5 pound and 10 pound, depending on the situation, and might not always make a regular customer pay.
"We normally try to avoid corkage because it's always a pain," Lepin says. "It's frustrating for us to take care of customers who don't spend any money with us. But we'll always find a way of coming to an arrangement."
I called London's leading restaurants anonymously to ask what they charge. There was confusion at some venues and Pied a Terre was unaware of the current Vines Offer, whereby you don't pay corkage if you ask for the offer when booking.
There was uncertainty about the charge at some eateries, with whispering at the other end, or my call being transferred to someone else, or a promise to call back. gunewardena says his company doesn't have a policy.
The message seems to be, if you want to take wine into a restaurant, call and discuss it first with the sommelier.
"We normally try to avoid corkage ... It's frustrating for us to take care of customers who don't spend any money with us. But we'll always find a way of coming to an arrangement."
"the guy who recently bought my 82 Petrus at 3,000 pound ([Bt165,500] did really well because it cost me 2,700 pound to replace," says David Moore, owner of the two-Michelin-star Pied a Terre, in London's Fitzrovia district. "The higher up the wine list you go, the better value you get."
The worst value will be under 30 pound a bottle, Moore says. "For a 5 bottle pound, you're probably going to pay over 15 pound when we add [tax] in.
Some London restaurants charge as much as 50 pound a bottle for corkage and still say they don't like bring-your-own.
"As a rule of thumb, wine, water and soft-drink sales are about one-third of revenue, so it's an incredibly important part of the busines," says Des Gunewardena, chairman and chief executive of D&D London, the owners of Coq d'Argent and Plateau.
Over at Arbutus, Will Smith, who co-owns the Soho eatery and its Mayfair sister, Wild Honey, says he charges 20 pound.
"It's rare - not once a month between the two restaurants - and I'd prefer not to do it," he says. "But I'm delighted people are dining with us and it's about good will and being hospitable. They will usually have something else from us anyway, so there's always a sale in there somewhere."
Hugues Lepin, head sommelier at Bleeding Heart, says he usually charges between 5 pound and 10 pound, depending on the situation, and might not always make a regular customer pay.
"We normally try to avoid corkage because it's always a pain," Lepin says. "It's frustrating for us to take care of customers who don't spend any money with us. But we'll always find a way of coming to an arrangement."
I called London's leading restaurants anonymously to ask what they charge. There was confusion at some venues and Pied a Terre was unaware of the current Vines Offer, whereby you don't pay corkage if you ask for the offer when booking.
There was uncertainty about the charge at some eateries, with whispering at the other end, or my call being transferred to someone else, or a promise to call back. gunewardena says his company doesn't have a policy.
The message seems to be, if you want to take wine into a restaurant, call and discuss it first with the sommelier.
"We normally try to avoid corkage ... It's frustrating for us to take care of customers who don't spend any money with us. But we'll always find a way of coming to an arrangement."
Subscribe to:
Posts (Atom)