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news.Generex Biotechnology has entered into an exclusive product licensing and distribution agreement with the Armenian Development Agency and Canada Armenia Trading for the commercialization of Generex Oral-lyn, the company's proprietary oral insulin spray product.
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The agreement covers the Republic of Armenia, Georgia, and the Republic of Kazakhstan. ADA and CATH will bear any and all costs associated with the procurement of governmental approvals for the sale of the product, including any clinical and regulatory costs.
It is estimated that more than 8.1% of the people in Armenia, 9% of the people in Georgia, and 5.5% of the people in Kazakhstan suffer from diabetes and its complications.
Anna Gluskin, the company’s president and CEO said: “We hope that with the growing prevalence of diabetes that more than one million people in Armenia, Georgia and Kazakhstan will eventually treat their diabetes with Generex Oral-lyn. We will continue to pursue international governmental approvals of Generex Oral-lyn around the world as we proceed with the Phase III trials in the United States, Canada, and Europe.”