GenoMed Cleared by Indian Government to Distribute Healthcare to India
ST. LOUIS, Aug 29, 2006 /PRNewswire-FirstCall via COMTEX/ -- GenoMed, Inc. (Pink Sheets: GMED), a Next Generation Disease Management (DM) company whose business is public health(TM), announced today that it has obtained clearance, through their Indian distributor Sumit Biosciences Pvt Ltd, from the Indian Government to market its Next Generation DM(TM) product in India.
The cost is under US $150 per patient per year. Since the per capita income in India is around US $600 a year, GenoMed's Next Generation DM(TM) service is well within the reach of the average Indian citizen.
Sumit Biosciences Pvt Ltd is currently enlisting physicians at the King Edward Memorial Hospital in Mumbai to offer GenoMed's protocols to their patients. Mumbai, formerly called Bombay, is the fourth largest city in the world, with 12 million inhabitants.
Dr. David Moskowitz, GenoMed's CEO and Chief Medical Officer, said, "The US and Europe have been completely uninterested in our published methods for preventing kidney dialysis and slowing down emphysema. The $25 billion a year that the US spends on dialysis may actually serve as a perverse financial disincentive not to eliminate the industry. India spends nothing on dialysis, so nobody there has a financial stake in preserving the dialysis industry."
Added Dr. Moskowitz, "It's as if the Directors of the TB sanitaria in the US ignored streptomycin in 1950 to save their jobs. It's a shame that the taxpayers of the US and Europe are paying for genomics-based medicine, but citizens of developing countries like India are the only ones using it."
About GenoMed(TM)
GenoMed is the only biotechnology company serious about both lowering healthcare costs and improving patient outcomes. It is leading the clinical revolution made possible by knowing which genes cause which diseases. GenoMed is currently marketing its protocols to prevent kidney failure due to high blood pressure and diabetes, and to delay the progression of emphysema. The company is offering its Healthchip(R), on a research basis only, to predict breast, colon, lung, ovarian, pancreatic, and prostate cancer in Caucasians. And GenoMed is in the process of creating a virtual pharmaceutical company to develop new drugs for the hundreds of cancer chemotherapy targets it has discovered, where no drug yet exists.