Radient Pharmaceuticals Corporation
Radient Pharmaceuticals Corporation (Radient Pharma), is a specialty pharmaceutical company engaged in the manufacture and marketing of diagnostic, pharmaceutical, nutritional supplement, and cosmetic products. Recently in September 2009, the company changed its name from ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œAMDL, Inc.ÃƒÂ¢Ã¢â€šÂ¬Ã‚Â to ÃƒÂ¢Ã¢â€šÂ¬Ã…â€œRadient Pharmaceuticals Corporation". The company carries out its business through three divisions namely In-Vitro diagnostics, China-based pharmaceutical manufacturing and distribution, and cancer therapeutics.The company is headquartered in California, United States.In October 2009, the company through its wholly-owned subsidiary, AMDL Diagnostics, entered into an exclusive five-year marketing and distribution agreement with Grifols USA. As per the terms of the agreement, Grifols will market and sell ADI's DR-70 Onko-Sure cancer test for the monitoring of colorectal cancer (CRC) to hospitals, clinical labs, clinics, and other healthcare organizations throughout the US. In December 2009, the company, through its wholly owned subsidiary AMDL Diagnostics, Inc., entered into a three-year marketing, sales and distribution agreement with GenWay Biotech Inc. As per the terms of the agreement, GenWay Biotech received non-exclusive rights to distribute RPC's Onko-Sure in vitro diagnostic cancer (IVD) test in the European Union, Middle East (excluding Israel), United Kingdom and Russia. This collaboration will enable the company to expand its sales revenue growth in four international markets.The company reported revenues of (U.S. Dollars) USD 28.27 million during the fiscal year ended December 2008, an increase of 88.35% over 2007. The operating profit of the company was USD 3.31 million during the fiscal year 2008, whereas the company reported an operating loss of USD 1.79 million during 2007. The net profit of the company was USD 1.18 million during the fiscal year 2008, whereas the company reported a net loss of USD 2.35 million during 2007.