HENDERSON, Nev., June 03, 2024 (GLOBE NEWSWIRE) — Nika Pharmaceuticals Inc. (OTCMKTS: Nika) has announced its plans to develop the company into a sustainable business project that will continue to grow, generate high profits and pay dividends to shareholders.
To achieve its goal, NIKA will work on building three pharmaceutical facilities:
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Factory that manufactures injections
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A factory that manufactures tablet-type medicines
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Nutritional supplement manufacturing plant
On May 9, 2024, NIKA became the beneficial owner of a production facility previously purchased and renovated by CEO Dimitar Savov, worth $2,045,209. There, a plant for injectables is being built according to GMP standards and is scheduled for completion by December 31, 2024. NIKA's subsidiary, Nika Europe, Ltd., signed a supply agreement and made a down payment for a brand new vial production line equipment. The full capacity of the production facility will be 18,000 vials per hour, with a maximum annual production capacity of 3,500,000 sets of ITV-1.1The retail price of one set of ITV-1 is 3,300 euros (approximately $3,500), resulting in a net profit of approximately $1,600, with Nika receiving $1,120 of net profit and the remaining $480 going to Immunotech Laboratories BG. On August 1, 2022, NIKA signed a joint venture agreement with Immunotech Laboratories BG, which has exclusive rights to manufacture and sell ITV-1 and has completed clinical trials on AIDS patients showing excellent treatment results (see final report). The goal of the agreement is to cooperate to realize the registration, manufacture and sale of medicines based on inactivated pepsin fractions (“IPF”). NIKA expects to generate net profit of approximately US$1,176 million by the end of 2025, starting initially with 30% of production capacity in 2025, and aims to gradually increase production rates to 90% of maximum production capacity by the end of 2026.
NIKA currently has sales agreements with strategic partners who have been granted exclusive rights to sell the AIDS drug ITV-1 in the territories of the UAE, Ukraine, Iraq, Jordan and Syria. NIKA is working to select the most suitable partner and is also in the process of negotiating exclusive rights in other countries, including Nigeria. “Thanks to our personal connections in Europe, Asia and Africa and the strategic location of Bulgaria, Nika Pharmaceuticals has great potential to choose strategic partners,” says Savov. Bulgaria's accession to the EU also gives NIKA direct access to a market of 450 million people. “ITV-1 has shown excellent therapeutic efficacy and is compatible with other drugs currently used to treat AIDS, so ITV-1 will be an excellent auxiliary tool in the fight against AIDS. ITV-1 has a broad spectrum of antiretroviral activity, so it can also be useful in the treatment of other viral diseases,” continues Savov.
With more than 50% of medicines worldwide being generic, NIKA has purchased the necessary technology and full registration documents for the production of generic versions of Vinpocetine 10mg, Menthyl Valerate 60mg and Metamizole Sodium 500mg (see PR of April 15). NIKA is exploring suitable building options for a tablet medicines manufacturing plant and will announce specific details as soon as a final decision is made. NIKA has since purchased full documentation for Galantamine Hydrobromide 5mg, used in the treatment of dementia, and continues to explore other technologies for the production of generic medicines. The company strives to ensure that its portfolio includes the treatment of the most common and serious diseases.
“NIKA currently has 11 dietary supplements in its dietary supplement portfolio, six of which, namely Physiolong, Carotilene, Hypocholestin, Biodetoxin, Anthocillen C and Silimarone, have shown useful properties and are already on sale in Bulgaria and we are in negotiations to acquire a semi-finished dietary supplement factory as we are working to begin wider distribution across the European Union, Asia and Africa,” Savov explained.
NIKA is preparing a comprehensive business plan with detailed information and forecasts for the company's development over the next five years. “We believe that this informal business strategy will be a good way for investors to understand the thinking of our management, since shareholders are equally valuable to our company, regardless of the size of their holdings. We would like to once again thank our shareholders for their trust in our company,” Savov concluded.
About Nika Pharmaceutical Co., Ltd.
Nika Pharmaceuticals, Inc. (NIKA) is a pharmaceutical company specializing in the treatment of HIV/AIDS, Hepatitis B & C, rheumatoid arthritis, cancer, diabetes, and all diseases where enhanced cellular immunity is critical. NIKA's intellectual property includes six injectable drugs (two of which have passed clinical trials with successful treatment results), four tablet formulations, and eleven dietary supplements. NIKA's goal is not just to achieve corporate profits, but to improve and facilitate access to life-saving medicines and helpful dietary supplements. For more information, please visit www.nikapharmaceuticals.com.
Forward-Looking Statements:
This press release contains forward-looking statements. Certain statements other than purely historical information, such as estimates, forecasts, business plans, objectives and statements regarding expected performance, and the assumptions on which such statements are based, are “forward-looking statements”. These forward-looking statements are generally identified by words such as “believes,” “expects,” “anticipates,” “intends,” “strategy,” “plans,” “may,” “will,” “will likely result” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that could cause actual results to differ materially. Our ability to predict results or the actual effectiveness of any future plans or strategies is inherently uncertain.
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1 Assuming a 10-hour work day and an average of 26 working days per month, the factory will produce 56,000,000 vials per year at full capacity, which equates to 3,500,000 sets containing 16 vials each.
CONTACT: CONTACT Clifford Redekop, Secretary COMPANY Nika Pharmaceuticals, Inc. PHONE (702)-326-3615 EMAIL info@nikapharmaceuticals.com WEB www.nikapharmaceuticals.com
