Ann: Phosphagenics and Quigley Corp form JV for O, page-25

re: Ann: Phosphagenics and Quigley Corp form ... Heres is just report I have come across today in USA Business press for our new JV with Quigley. Note mention of acne and smoking reduction OTCs

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Quigley forms joint venture with Phosphagenics to develop over-the-counter remediesMarch 23, 2010 11:00 AM ET advertisement

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All bizjournals.com newsQuigley Corp. and Phosphagenics Ltd. said Tuesday that they formed a joint venture to develop nonprescription remedies.

Doylestown, Pa.-based Quigley (NASDAQ:QGLY) makes Cold-Eeze products. Melbourne, Australia-based Phosphagenics has been focused on developing new delivery systems for pharmaceuticals and nutraceuticals.

The entity is to be called Phusion Laboratories. The companies said it combines Phosphagenics' state-of-the-art science and research team with Quigley's robust distribution network and [over-the-counter] market expertise.

Quigley CEO Ted Karkus said the venture will tap a Phosphagenics technology that administers treatments through the skin in a way that will increase the absorption and efficacy of many [over-the-counter] active ingredients. "Because we are focusing on OTC drugs, for which no prescription is required, we will avoid the tens of millions of dollars of costs and years of development associated with launching a new prescription drug," Karkus said.

Phosphagenics CEO Harry Rosen said, We see extraordinary OTC products coming out of this joint venture for large markets such as acne treatment and smoking cessation where irritation is a major issue.

Quigley is paying $1 million and 1.44 million shares of Quigley common stock, and providing $500,000 of initial capital and up to $2 million for initial development and marketing costs, the companies said.

Phosphagenics will conduct and oversee much of the product development, formulation, testing and other R&D needed by the company, the companies said. Quigley will oversee much of the distribution, sales and marketing.
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KC