AMSTERDAM--(BUSINESS WIRE)--Genmed Holding Corp. (OTCBB: GENM) has announced that it has received a request for proposal (RFP) from a leading Czech Republic pharmacy chain and has responded with its proposal. The chain operates approximately 350 pharmacies in three countries including, the Czech Republic, Slovakia, and Poland, and employs over 1,000 people. Genmed submitted its proposal to supply the chain with the drug paracetamol, a generic form of Tylenol.
Genmed meets several of the major requirements for winning bidders including holding the appropriate distribution license for paracetamol. GenMed Chief Executive Officer, Erwin Bouwens said, “Because the Czech Republic is an EU country, our distribution license is valid under the terms of our proposal.” The proposal submission deadline was today and suppliers will be selected in late March and early April. Implementation will begin immediately following the bid awards, in April and May. Winning suppliers shall receive a minimum three year contract. The first order commitments outlined in the RFP are for 85,000 packs (12 packs of 12 tablets) and 1,020,000 singles (1 pack of 12 tablets) of 500 mg paracetamol tablets. Estimated sales volume from first order commitments is $8,080,000 USD.
GenMed Chief Executive Officer, Erwin Bouwens continued, “We are very excited about our submission. Our pricing is extremely competitive and we anticipate a positive response. It’s a unique opportunity to supply one of the regions’ largest pharmacy chains with their own private label products but also opens the opportunity to supply government pharmacies as well.”
About Genmed Holding Corp.
Genmed Holding Corp. is a United States and Dutch based company focusing on the delivery of low cost generic pharmaceutical drugs directly to distribution channels throughout the world. The Company began its generic drug business in 2008 and today operates primarily through its 100% owned subsidiary Genmed B.V., which is registered in the Netherlands. The Company is led by an experienced management team and board who have considerable and highly relevant experience in product development, registration, sales, marketing, distribution, operations, and financial administration.
For Additional Information, Go to the Website: www.genmed.nl
This press release contains certain "forward-looking statements" within the meaning of federal securities laws including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. Although the Company believes that the statements were reasonable when made, these forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.