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news.AMDL, a vertically integrated specialty pharmaceutical company with major operations in China and the US, has restructured its business into three distinct divisions to better reflect the company's operational focus on becoming a diversified pharmaceutical company.
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The new divisions include an in vitro diagnostics (IVD) division specifically focused on accelerating AMDL’s market launch for the AMDL-ELISA DR-70 (FDP) cancer test; a cancer therapeutics division specifically focused on accelerating research for its combination immunogene therapy technology; and a China-based integrated pharmaceuticals division focused on the continued manufacturing, sales and distribution of AMDL’s range of generic, specialty and branded pharmaceutical products.
Additionally, under this new operational structure, AMDL said that it will aggressively work to: establish the IVD division for DR-70 with a structural platform for funding the division through a potential joint-venture partnership(s) or selling the division as a stand-alone business; establish the cancer therapeutics division with a structural platform for funding the division through a potential joint-venture partnership(s) or selling the division as a stand-alone business; continue accelerating the manufacturing, sales and marketing of AMDL’s China-based pharmaceutical product portfolio through the integrated pharmaceuticals division; and leverage AMDL’s current assets and resources to drive future growth.
Gary Dreher, president and CEO of AMDL, said: “Segmenting AMDL’s operations into these three distinct divisions provides us with greater market focus, increased flexibility across our diverse product portfolio, and a solid platform to successfully execute AMDL’s key business goals.
“We’ve achieved significant growth in sales and gross profits over the past 18 months and believe this refinement will strengthen AMDL’s long-term growth position as a developer, manufacturer and supplier of diagnostic and pharmaceutical products.”