The Quigley Corporation Plans to Submit IND for New Formulation
DOYLESTOWN, Pa., Feb 11, 2003 (BUSINESS WIRE) - Quigley Pharma
Formula Suggests Further Study For Possibly Related Medical
Conditions
The Quigley Corporation (NASDAQ: QGLY) announced today that its
wholly owned subsidiary, Quigley Pharma Inc., found that a
naturally derived compound called QR 337, developed for improving
the cosmetic appearance of dry skin conditions, showed promising
results during a recent preliminary study.
Under the direction of Raymond E. Silk, M.D., F.A.C.S., Silk
Clinic, Philadelphia, PA, a group of 23 volunteers with various
dry skin conditions participated in a cosmetic study of this
compound.
Dr. Silk stated, "Out of the 23 subjects in the study, 22
displayed an improvement in dry skin appearance. In addition, I
observed indications of some improvement beyond basic skin
appearance. These positive, preliminary results suggest that
further study of this compound for dry skin and possibly related
medical conditions is warranted."
Based upon these positive, preliminary results, The Quigley
Corporation plans to submit an investigational new drug
application (IND) to the federal Food and Drug Administration
(FDA) to obtain permission to study and develop the compound as a
potential prescription drug. A patent for this compound was
previously assigned to The Quigley Corporation.
About
The Quigley Corporation
The Quigley
Corporation (NASDAQ: QGLY) is a leading developer and marketer
of diversified health products including the Cold-Eeze® family of patented zinc gluconate glycine (ZIGG(tm)) lozenges,
gums and sugar free tablets. Cold-Eeze is the only (ZIGG(tm))
lozenge proven in two double-blind studies to reduce the duration
of the common cold from 7.6 to 4.4 days or by 42%. In addition
to Over-The-Counter (OTC) products, the Company has formed
Quigley Pharma Inc. (www.QuigleyPharma.com), a wholly owned
ethical pharmaceutical subsidiary, to introduce a line of
patented prescription drugs. The Quigley Corporation's customers
include leading national wholesalers and distributors, as
well as independent and chain food, drug and mass merchandise
stores and pharmacies.
No claims are being made for the potential medicine discussed
in this press release to be safe, effective, or approved by
the Federal Food and Drug Administration (FDA).
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 and involve known and unknown
risk, uncertainties and other factors that may cause the Company's
actual results, performance or achievements to be materially
different from the results, performance or achievements expressed
or implied by the forward-looking statement. Factors that
impact such forward-looking statements include, among others,
changes in worldwide general economic conditions, changes
in interest rates, government regulations, and worldwide competition.
