Pioneer Co-operation Agreement for Gr. Sarantis ABEE

The company Lobelin-Pharmacare SA, an affiliate of Gr. Sarantis ABEE Group, with business activities regarding OTC-parapharmaceutical products in the area of Drugstores, has signed a unique for European standards exclusive co-operation agreement for the supply and distribution in the Greek market of pioneer diagnostic products of the rapidly growing Greek company Bionuclear SA, commencing immediately with the pioneer product Narcocheck. 

The object of activities of the company Bionuclear SA is research & development, production and market supply of pioneer diagnostic products of Point of Care Tests (POCT) type, as well as design and manufacturing of radio-pharmaceutical and diagnostic products for medical use. Its consolidated turnover, in 2002, exceeds 50 million Euros, noting an impressive sales and net profit growth within the last years, which is estimated to continue at the same rate in the directly following years.      

The company Lobelin-Pharmacare SA, 100% affiliate of Gr. Sarantis A.B.E.E., can provide one of the most potent OTC-parapharmaceutical products supply and distribution networks in the Greek Drugstore market, having as main trademarks in the Health sector, Lanes & Ortis Vitamins & Diet Supplements and in the Healthcare sector, Korff cosmetics, found in selected drugstores and ClearBlue & ClearPlan pregnancy prediction tests. Its turnover for 2003 is expected to exceed 16 million Euro.

The agreement was signed in September 30th and in October 20, 2003, the supply and distribution of Narcocheck, a product for the direct and valid check of narcotics use, shall currently be under way.

Narcocheck provides, without the need of expert personnel and promptly, within 2’-10’, an absolute and reliable tracking of 5 classes of narcotic substances (Cannabis products-THC, Opium products-OPI, Amphetamines-AMP, Methamphetamines-mAMP and Cocaine-COC). The product has been granted authorization 510 K by FDA and Health Canada, is currently available solely in the United States and the Middle East and does not require EOF (National Drugs Organisation) authorization, as it bears CE marking.   

According to the more moderate forecasts by a relative independent firm, Narcocheck sales in the Greek market in 2004 shall reach 1,500,000 Euro.   

Narcocheck, available solely in Drugstores for exclusive use at home, is expected to function pro-actively as means for a valid diagnosis of narcotics use within the framework of the family unit, for the prevention and fight against narcotics use in our country, which has increased considerably within the last years.