Groupe Athena, Inc. (OTC Pink: GATA) (PINKSHEETS: GATA) announced today they are in the final stages of negotiations with 2 Indian pharmaceutical companies for the manufacture of the drug Atorvastatin, the generic form of Lipitor. The company expects to finalize terms by the end of April with formal license application to the UK MHRA expected to follow by mid year.
As was previously announced, the initial license application will be for the manufacture and sale of 25 and 50 mg Atorvastatin. The UK National Health Service states that it is saving approximately $1 million GBP per day on Atorvastatin since the Lipitor patent expiration.
In addition to the Atorvastatin license, the company is also conducting market research on other popular generics for license within the UK including the blood pressure medicine, Atenolol.
The company has set the date of April 21 after the market close for the release of 3rd quarter financials.
The Indian pharmaceutical industry was estimated to be over $21 Billion in 2010 and is expected to experience double digit annual growth through the end of the decade. GATA has emerged as a vital component of this growth by its ability to help Indian manufacturers get their products approved by the FDA for sales in the US.
For more information on Groupe Athena, Inc. please go to www.otcmarkets.com/stock/GATA/quote or visit our corporate website at www.groupeathena.com.
About Groupe Athena, Inc.
Groupe Athena Inc. was incorporated in June 2008 and began operations on July 1 of that year. The company is a research and testing organization and helps various pharmaceutical and medical products and devices companies in India and Southeast Asia to get regulatory approvals and facilitate exports of their products to the United States. The Company accomplishes this by assisting clients from concept through development, providing consultation on regulatory requirements, filings and processes.
The company has a research and marketing facility in India that currently employs 19 consultants and marketing personnel and is working towards aggressively expanding its presence in the Indian pharmaceutical industry. The Company's web address is www.groupeathena.com
Safe Harbor Statement
Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
For more information contact:
Paul Cornell
Corporate Shareholder Relations
Cornellpaul6@gmail.com
SOURCE: Groupe Athena, Inc.
Associated Documentation:
Link to submission on http://www.eteligis.com
GATA_3-24-2014_LST_ETL.docx
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