Quigley Receives Patent Approval for Arthritis Treatment
DOYLESTOWN, PA. - October 12, 2004 - The Quigley Corporation (Nasdaq: QGLY)
announced today that the U.S. Patent and Trademark Office has approved the
issuance of a patent for the company's QR-440, filed on April 23, 2003, for a
naturally derived compound developed for the treatment of arthritis and related
inflammatory disorders.
This naturally derived compound is not a selective cyclo-oxygenase 2 inhibitor.
The company believes this potential new drug will inhibit a range of
inflammatory cytokines and in view of this non-selective mechanism of action
and its natural sources, there will be a minimum of safety concerns.
The company is preparing to begin pre-clinical testing, leading to a submission
of an Investigational New Drug application to the U. S Food and Drug
Administration, for potential approval as a prescription drug.
According to the Arthritis Foundation: in 2002 there were 70 million people, or
one-in-three adults, suffering from arthritis in the United States; arthritis
is one of the most prevalent chronic health problems and the nation's leading
cause of disability among Americans over age 15; arthritis results in 39
million physician visits and more than a half million hospitalizations each
year; costs to the U.S. economy totals more than $86.2 billion annually;
arthritis refers to more than 100 different diseases that affect areas in or
around joints.
The Quigley Corporation (Nasdaq: QGLY, http://www.Quigleyco.com) is a leading
developer and marketer of diversified health products including the COLD-EEZE®
family of patented zinc gluconate glycine (ZIGG™) lozenges and sugar free
tablets. COLD-EEZE is the only (ZIGG) 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. (http://www.QuigleyPharma.com), a wholly owned ethical
pharmaceutical subsidiary, to introduce a line of naturally-derived 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. The Quigley Corporation makes
no representation that the U.S. Food and Drug Administration or any other
regulatory agency will grant an IND or take any other action to allow the
aforementioned products to be studied or marketed. Furthermore, no claim is
made that the potential medicine discussed here is safe, effective, or approved
by the Food and Drug Administration.
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 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.
