Akers Biosciences Incorporated is a pharmaceutical company that produces and distributes pharmaceutical drugs under the names Proctic, Akers, Nexia and Cellex. Akers has positioned itself as one of the top pharmaceutical companies based in the United States.
It has thus become its core business segment that involves the production of hundreds of pharmaceutical products under the names Phenergan, Actonel, Ranitidine, Cellex, Cortax, Norpramin and Zantac. Nasdaq mymd at https://www.webull.com/quote/nasdaq-mymd has its main office in North Palm Beach, Florida. It also has around ten manufacturing facilities in the United States.
The business model of Akers Biosciences Incorporated is quite unique because it has positioned itself as a biotechnology and nutraceuticals company that focuses on the discovery and development of new pharmaceuticals and nutraceuticals with the support of scientific research and development activities.
The company’s R&D wing has been able to identify key characteristics that are required to create effective proteins that can address the growing needs of the market. This division of the business is headed by a chief executive officer, John J. Stubblefield who is a professor at the University of Massachusetts Medical School and was previously a senior director for pharmaceuticals at Genentech.
Dr. Stubblefield has held numerous positions in the pharmaceutical industry including president of Sanofi Aventis Limited, where he served as senior vice president and CFO. Dr. Stubblefield is one of the few executives of a large corporation holding an academic degree from Harvard University.
In terms of tangible assets, Akers Biosciences Incorporated owns around 13.6 million shares of restricted securities that are convertible into common stock at a specific price upon the completion of the offering. The company intends to raise funds through the issuance of underwritten warrants and has signed agreements with an investor for a capital raising. As part of the arrangement, the warrant will be converted into shares of the Company’s common stock on the closing of the deal.
This is the primary source of liquidity for the Company as it seeks to raise additional funds. In addition, the company is involved in various mergers and acquisitions activities that involve acquisitions and investments in other companies that are related to the biotechnology and food supplement markets.
Akers Biosciences Incorporated is currently involved in several drug discovery and pre-clinical programs in the fields of biotechnology and nutrition. As stated earlier, this biotechnology and nutrition company is involved in several mergers and acquisitions that involve the acquisition of companies that manufacture products that address the health and wellness markets.
These include the acquisition of Phytoesss Inc., a company that develops products in the pharmaceuticals industry; L’Oreal International N.V. (Loreal), a French company that produces cosmetic products such as cosmetics, skincare, and personal care for the cosmetics industry; and Gevalia USA, which is a producer of both nutritional and medical supplements.
The company’s product portfolio is targeted at the biotechnology and nutrition market. It offers a number of health and wellness products including nutritional supplements, weight loss beverages, personal care products, skincare products, personal care items, food products, and pharmaceuticals.
The company’s products are derived from four main areas that it incorporates in its venture. These are microbiology, nutrition, pharmaceuticals, and hydrology. It is engaged in the research, development, manufacturing and distribution of pharmaceuticals in the United States and Canada. It also supplies therapeutic and diagnostic devices. There are many other stocks such as NYSE u at https://www.webull.com/quote/nyse-u.