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PanGenex Attracts Growing Number of Alternative Medicine Practitioners to Referral Network

^{Published on 2010-01-05 06:45:59 - Market Wire}
 

TAMPA, Fla.--([ BUSINESS WIRE ])--PanGenex Corporation (Pink Sheets: PGCX), a global nutraceutical and dietary supplement manufacturer and marketer, announced today it has added a number of complementary alternative medicine (CAM)/holistic medical practitioners to its national physicians' referral network. These physicians are part of a national distribution channel for the Company's patented or patent pending nutraceutical products: Calci-Clear™, LIPIDEME™ and Omeganol™. All practitioners are licensed and credentialed.

"We have seen a particular increase in the number of chiropractors joining our network. Patients who visit these doctors are generally more receptive to alternative forms of medicine"

"With the potential overuse of antibiotics in the U.S., patients and their doctors are finding that typical pharmaceutical remedies might be less effective. They are increasingly turning to holistic medicine as a solution," said John Stanton, PanGenex Chairman of the Board. "Employers are also jumping on this health care trend. Many are adding an alternative medicine rider to existing health care plans or providing discounts on all-natural health & wellness products. The result is a more level playing field for the nutraceutical industry, and a tremendous new growth opportunity for PanGenex's product lines."

According to the most recently published survey from the National Health Interview Survey, people use CAM for an array of diseases and conditions. American adults are most likely to use CAM for musculoskeletal problems such as back, neck, or joint pain. "We have seen a particular increase in the number of chiropractors joining our network. Patients who visit these doctors are generally more receptive to alternative forms of medicine," added Stanton. "We believe the holistic market is still in its early stages of growth, and we can establish a leadership position in this high-growth category."

About PanGenex Corporation

PanGenex Corporation pursues business opportunities in the $70 billion nutraceutical and dietary supplement industry. With a focus on the cardiovascular health segment, PanGenex develops and markets sector-leading, patented or patent pending, condition-specific nutraceuticals and topical over-the-counter (OTC) drugs and personal care products. Many of its products contain the purest grade of nutraceutical components available anywhere without a prescription. Since 2006, PanGenex has voluntarily submitted its product labels to the FDA without incidence. PanGenex products are sold to healthcare practitioners in 20 U.S. states, Canada, Puerto Rico, Canada, Brazil and Australia, in fine retail establishments and on the Internet including: [ www.PanGenex.com ], [ www.Calgenex.com ] and [ www.HeartHealthyWorld.com ].

This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook. The statements in this press release have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.