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MERIAL AND ASPENBIO SIGN GLOBAL PACT.
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(Full text of statement. Contact details below.)
CASTLE ROCK, Colo., and DULUTH, Ga., March 31 - PRNewswire-FirstCall-AsiaNet - AspenBio, Inc. (OTC Bulletin Board: APNB) and Merial Limited announced today they have entered into a Global Development and Distribution Agreement. The agreement provides Merial with exclusive rights to market and distribute AspenBio's new, patent-pending diagnostic blood test. The test is designed to be used approximately 18 days after insemination to determine the early pregnancy status of dairy and beef cattle. AspenBio is currently in the final phase of product development and expects to complete a large-scale field trial to validate the accuracy and reliability of the pregnancy test in U.S. dairy herds in July 2003.
"Merial enters this agreement with AspenBio as another forward-thinking step to increasing our expanding portfolio of innovative animal health solutions for the livestock market. We believe this unique product has great potential for increasing reproductive performance efficiencies for dairy and beef producers," explains Steve Rochester, Head of the Merial Ruminant Enterprise.
"Our diagnostic blood test was designed to assist dairy and beef producers with more effective breeding programs and increased profitability. We are confident that our agreement with Merial, with its excellent reputation and global distribution system, will be able to penetrate the market and achieve rapid acceptance as soon as development and field testing are completed," states Roger Hurst, President of AspenBio.
Merial is the world's leading innovation driven animal health company, providing a comprehensive range of pharmaceuticals and vaccines to enhance the health, well-being and performance of a wide range of animals. For the cattle industry, Merial provides a broad line of dairy and beef animal health products including: EPRINEX(R) (eprinomectin); IVOMEC(R) PLUS (ivermectin/clorsulon); IVOMEC(R) POUR-ON (ivermectin); CYSTORELIN(R) (gonadorelin diacetate tetrahydrate); CORID(R) (amprolium); plus RELIANT(R) and RESPISHIELD(TM) brand respiratory disease vaccines, and J-VAC(R) coliform mastitis vaccine.
Merial operates in more than 150 countries worldwide. Its 2002 sales were in excess of $1.6 bn / 1.7 bn euros. Merial Limited is a joint venture between Merck (NYSE: MRK) and Aventis (NYSE: AVE). For further information please see www.merial.com
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Source: HighBeam Research, MERIAL AND ASPENBIO SIGN GLOBAL PACT.