Gapped on the open and then retraced a little. Do not know much about the compnay so I am not making any statements about movements.
BOCA RATON, Fla., Apr 21, 2005 (BUSINESS WIRE) -- Med Gen Inc. (OTCBB:MDGN), manufacturers of the national brands Snorenz(R), snore relief throat spray and Good Nights Sleep(R), sleep aid throat spray, announced today that it has received notification from RITE-AID that it will add Med Gen's Snorenz(R) to its Cough & Cold section in all its stores.
The recent hiring of NSS (National Sales Solutions, LLC) as the master brokers for Med Gen, as announced in an earlier News Release, has proved to be the right move to dramatically increase sales. RITE-AID is the fourth largest drug chain in the United States with over $16.8 billion in sales in almost 4,000 stores. In an analyst conference call, Mr. Kravitz, company Chairman & CEO, characterized this as one of the most significant events to impact the company in sales this year and proves the continual increase in popularity of Snorenz(R), Med Gen's patented all natural liquid snoring relief formula. Placing a dollar volume on the initial order and the orders to follow is difficult, but Mr. Kravitz indicated that the amount is estimated to be large and in the category between Walgreen and Wal-Mart.
"Volume is important, but the recognition of Snorenz(R) and its growing popularity by other store buyers is also important," Kravitz said. He added that "the $1.5 million, recently invested by NIR Group will help to move product off the shelves of all the mass market retailers that have placed their confidence in the Snorenz(R) brand."
"Management continues its focus on increasing sales, consumer awareness and stock appreciation. Communicating about important matters that promote our enterprise, and prove the value of our products and our franchise, thereby increasing public interest in our securities and company, are an important part of my daily schedule."