Virogen, Inc., the developer and patent holder of a revolutionary vaccine to combat Newcastle disease, a deadly disease that kills chickens worldwide, announced that due to the recent turmoil in the markets the company has made the decision to cancel the previously announced forward split indefinitely.
Statement by Paul Hogan, CEO
Paul Hogan, CEO of Virogen, Inc. notes, "Since every production bird in the world is required to be vaccinated, the potential success of the company is still intact, but prudence dictates a conservative approach at this time. Since Virogen's vaccine is breakthrough technology and the most effective Innovo patent-protected product on the market, the company continues to anticipate it will capture this exclusive market for several years. VRGI has prepared for rapid expansion into this worldwide market of approximately 45 billion birds annually (85% of the world market) by establishing a distributor network prior to licensing. With a growth rate of 30% per year and growing, one can anticipate the revenue opportunity for this vaccine is in the tens of millions."
The Company
Virogen is a Minnesota based Corporation formed solely to conduct research, and develop vaccines for the veterinary industry worldwide. The company's flagship product is its Innovo Newcastle Vaccine.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment