Fero Industries, Inc. is pleased to announce that independent Sucanon clinical trials currently being conducted in the Middle East has reached the third and final stage of investigation. Testing is expected to be completed during the month of February and upon successful conclusion will enable the company to license and market Sucanon across the Middle East.
The Sucanon Middle East clinical study is being conducted at the University of Tehran (UoT) in Iran. The UoT is the oldest and largest university in Iran and is ranked among the top 500 universities worldwide. In 2001, UoT established their advanced Science and Technology Park, making it the premier facility for scientific, applied, and developmental research in the Middle East.
The Middle East has one of the largest and fastest growing diabetic populations in the world. Six countries in the Middle East and North African Region rank among the world's top ten for diabetes prevalence. Current estimates show that 26.6 million people have Type-2 diabetes in the region (7.7% of the adult population) with that number expected to nearly double in the next 20 years. Similarly, the number of people with Impaired Glucose Intolerance (IGT) or “pre-diabetes” in the region is estimated to be an additional 24.4 million cases (7.1% of the adult population). Healthcare costs associated with diabetes in the region were estimated to be $5.6 billion in 2010.
“Expanding the global licensing and distribution reach of Sucanon is a key component of the Company's near term growth strategy,” said Luis M Lopez, MBA, director, Fero Industries Inc. and president of Pharmaroth S A the company's Mexican subsidiary. “Sucanon has already been proven as a safe and effective treatment for type-2 diabetes through extensive clinical trials on over 6,000 patients in Canada, China, and Peru. This further study conducted in the Middle East will enable us to license Sucanon for sale through an established pharmaceutical distributor in the region and reach a potential 60 million type-2 diabetes sufferers.”
Sucanon is one of only three approved drugs in the multi-billion dollar market for a class of diabetic medications called “Insulin Sensitizers.” Pre-clinical and clinical studies show that Sucanon and other insulin sensitizer's lower a patient's blood sugar by increasing the muscle, fat and liver's sensitivity to the body's own naturally produced insulin.
Sucanon is currently approved for prescription sale in China and Peru. Sucanon has also been approved as an Over-The-Counter (OTC) remedy for Type-2 diabetes by regulatory authorities in Mexico and is distributed under an exclusive agreement with Merck SA de C V in Mexico. Merck SA de C V is the Mexico and Latin America sales and marketing organization of German pharmaceutical and chemical giant, Merck KGaA.
Fero Industries, Inc. is focused on diabetes prevention and treatments and its strategy is to increase awareness, acceptance, and distribution of Sucanon globally.