http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/05-23-2005/0003683649&EDATE=
WALTHAM, Mass., May 23 /PRNewswire-FirstCall/ -- Inverness Medical
Innovations, Inc. (Amex: IMA), a leading manufacturer and marketer of rapid
diagnostic products for the consumer and professional markets, announced today
that its subsidiary, Wampole Laboratories, LLC, has signed an agreement with
ThyroTec Inc. to serve as the exclusive North American distributor of
ThyroTest(R), a rapid immunoassay screen for hypothyroidism. ThyroTest(R) is
a two-step lateral flow immunoassay which relies on Inverness' patented
technology to obtain a qualitative determination of human thyroid stimulating
hormone (TSH) in whole blood. ThyroTest(R) is the first rapid format TSH test
to receive FDA clearance and CLIA waiver.
TSH tests are now the fifth most widely performed assay in U.S. clinical
laboratories and it is reported that more Americans suffer from thyroid
disease than diabetes and cancer combined. According to the Colorado Thyroid
Disease Prevalence Study, 13 Million Americans have undiagnosed thyroid
disorders and one out of every eight women will develop thyroid disease. This
quick, 10 minute test should lead to prompt initial treatment decisions for
patients with thyroid disease.
"The potential U.S. market for rapid TSH tests should grow to over $30
million annually over the next several years, so we are excited to carry
ThyroTest(R), the first such test on the market," says John Bridgen, President
of Wampole Laboratories. The Centers for Medicare & Medicaid Services provide
reimbursement for the rapid TSH test at approximately $24.
"We are pleased that ThyroTec chose Inverness Medical and Wampole to
distribute this unique product," adds Ron Zwanziger, Chairman and President of
Inverness Medical Innovations. "ThyroTec's choice is further evidence that the
proven strength of our lateral flow intellectual property portfolio and our
distribution capabilities make Inverness the logical choice in point of care."
For more information about Inverness Medical Innovations, please visit our
website at http://www.invernessmedical.com.
For more information about Wampole Laboratories, LLC and its products
visit
http://www.wampolelabs.com
http://www.thyrotest.com
Inverness Medical Innovations is a leading global developer of advanced
diagnostic devices and is presently exploring new opportunities for its
proprietary electrochemical and other technologies in a variety of
professional diagnostic and consumer-oriented applications including immuno-
diagnostics with a focus on women's health, cardiology and infectious disease.
The Company's new product development efforts, as well as its position as a
leading supplier of consumer pregnancy and fertility/ovulation tests and rapid
point-of-care diagnostics, are supported by the strength of its intellectual
property portfolio. Inverness is headquartered in Waltham, Massachusetts.
This press release contains forward-looking statements within the meaning
of the federal securities laws. Actual results may differ materially due to
numerous factors, including without limitation, the potential market
acceptance of Thyrotest; the ability of Inverness to successfully develop and
commercialize ThyroTest; the development and commercialization by others of
competing products or alternative technologies; the ability of Inverness to
supply sufficient quantities of the product; conditions in the financial
markets; the intensely competitive environment in Inverness' markets which
could reduce its market share or limit its ability to increase market share;
the effect of pending and future legal proceedings, including the cost
thereof, on the Company's financial performance and product offerings; and the
risks and uncertainties described in the Company's periodic reports filed with
the Securities and Exchange Commission under the federal securities laws,
including Inverness' Quarterly Report on Form 10-Q for the quarter ended March
31, 2005, as amended. Inverness undertakes no obligation to update any
forward-looking statements.
ThyroTest(R) is a registered trademark of Thyrotec Inc.
SOURCE Inverness Medical Innovations, Inc.
Web Site: http://www.invernessmedical.com
http://www.wampolelabs.com http://www.thyrotest.com
http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=109&STORY=/www/story/05-23-2005/0003683649&EDATE=
_______________________________________________________________
Control Your Self-Serve Thyroid Account Here
Rules - mailto:[log in to unmask]
NoMail - mailto:[log in to unmask]
Mail - mailto:[log in to unmask]
Not DAILY DIGEST - mailto:[log in to unmask]
DAILY DIGEST - mailto:[log in to unmask]
Stop Attachments - mailto:[log in to unmask]
Force Attachments - mailto:[log in to unmask]
Force Subject: [THYROID] - mailto:[log in to unmask]
Subscribe - <http://maelstrom.stjohns.edu/CGI/wa.exe?SUBED1=thyroid>
Unsubscribe - mailto:[log in to unmask]
Our Home Page - http://www.Emissary.Net/thyroid/index.html
Thyroid Archives - http://maelstrom.stjohns.edu/archives/thyroid.html
Contact List Owners - mailto:[log in to unmask]
_______________________________________________________________
|