Fero Industries provides comments concerning FDA advisory panel recommendation on diabetes drug Avandia

Jul 20 2010

Fero Industries, Inc. (FROI - OTCBB) (the "Company") is pleased to provide these comments regarding the recent Food and Drug Administration ("FDA") advisory panel recommendation concerning the GlaxoSmithKline PLC (GSK:NYSE) diabetes drug Avandia^®. The FDA advisory panel has recommended that the agency keep diabetes drug Avandia on the U.S. market despite data clearly showing an increased risk of a heart attack and that GSK covered up their own research that first identified the problem.

“The recent positive recommendation from the FDA advisory panel despite a negative Senate Finance Committee report regarding GSK's behavior, clearly highlights the continued importance of Insulin Sensitizers such as Avandia® and Sucanon® in the ongoing battle against diabetes world wide”

"The recent positive recommendation from the FDA advisory panel despite a negative Senate Finance Committee report regarding GSK's behavior, clearly highlights the continued importance of Insulin Sensitizers such as Avandia^® and Sucanon^® in the ongoing battle against diabetes world wide," said the management of Fero Industries. "We can confidently say that, unlike Avandia^®, previous clinical studies have shown that Sucanon^® is an effective treatment for Type-II diabetes without adverse cardiovascular risks. To our knowledge, Sucanon^® has had no reported issues when it was previously being marketed by the prior owner. Moreover, the formulation of Sucanon^® is drastically different from that of Avandia. Sucanon^® is an herbal remedy, not a drug. The North American and global potential for Sucanon^® is enormous."

Sucanon^® is one of only three approved drugs in what is a $5.6 billion dollar market for a class of diabetic medications called "Insulin Sensitizers". Pre-clinical and clinical studies in 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 as an Over-The-Counter ("OTC") remedy for Type II diabetes by regulatory authorities in Mexico and will be distributed under an agreement with Merck S.A. de C.V. in Mexico and throughout Latin America. Sucanon^® was previously available in Mexico at both Costco and Wal-Mart. Mexico is the eighth largest pharmaceutical market and has one of the largest diabetic populations in the world.