20 Nov 2008 07:00
Embargoed: 0700hrs, 20 November 2008
Akers Biosciences Inc.
("ABI" or the "Company")
ABI Signs Multi Product Over-the-Counter Distribution Agreement
Akers Biosciences, Inc (AIM:AKR), a leading designer and manufacturer of rapid diagnostic screening and testing products, is pleased to announce that it has signed an agreement with a large U.S. distributor specialising in over-the-counter diagnostic products. The distributor, who cannot be named for commercial reasons, will market several of the Company's products to the U.S. retail market, including Tri-Cholesterol, the only disposable, rapid test in the world to read HDL, LDL and Total cholesterol levels.
Marketing of ABI's products under the agreement will begin immediately to drug, food and convenience stores and mass retailers. Clients include such retailers as Kmart, Wal-Mart, CVS, Walgreens, 7-Eleven, Safeway, Costco and Target.
Currently ABI has limited representation in the U.S. retail markets for over-the-counter sales but this agreement will transform the scale of personnel marketing ABI's products and the regions in which the Company is able to penetrate.
Thomas Nicolette, President and Chief Executive Officer of ABI said,
"This agreement represents a significant step in our strategy to penetrate a large segment of the U.S. retail healthcare market to complement our aggressive activities in the hospital and clinical laboratory arenas. There is a clear need for many of our products for use directly by consumers and we are pleased to partner with distributors who have the networks and ability to take our tests to them."
Enquiries:
Thomas A. Nicolette
President and CEO
Tel. +1 856 848 8698
Alasdair Younie
Arbuthnot Securities Limited
Tel. +44 (0)20 7012 2000
About Akers Biosciences
Akers Biosciences, Inc. develops, manufactures, and supplies rapid, point of care screening and testing products designed to bring healthcare information both rapidly and directly to the patient or healthcare provider. The Company has advanced the science of diagnostics while responding to major shifts in healthcare through the development of several proprietary platform technologies. The company's state-of-the-art rapid diagnostic assays can be performed virtually anywhere in minutes when time is of the essence. Akers has aligned with major healthcare companies and high volume medical products distributors to maximize product offerings, and to be a major worldwide competitor in diagnostics. Additional information on the Company and its products can be found at www.akersbiosciences.com.