Sangui - Perle im Biotechsektor bald 1ooo % ? (Seite 7920)
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ISIN: US80105B1017 · WKN: 906757 · Symbol: SBH
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Form 10QSB for SANGUI BIOTECH INTERNATIONAL INC
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15-May-2003
Quarterly Report
ITEM 2 - MANAGEMENT`S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
-
Forward-looking Statements
The following discussion of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and the related notes thereto included elsewhere in this quarterly report. Some of the information in this quarterly report contains forward-looking statements, including statements related to anticipated operating results, margins, growth, financial resources, capital requirements, adequacy of the Company`s financial resources, trends in spending on research and development, the development of new markets, the development, regulatory approval, manufacture, distribution, and commercial acceptance of new products, and future product development efforts. Investors are cautioned that forward-looking statements involve risks and uncertainties, which may affect our business and prospects, including but not limited to, the Company`s expected need for additional funding and the uncertainty of receiving the additional funding, changes in economic and market conditions, acceptance of our products by the health care and reimbursement communities, new development of competitive products and treatments, administrative and regulatory approval and related considerations, health care legislation and regulation, and other factors discussed in our filings with the Securities and Exchange Commission.
GENERAL
-
The Company is primarily involved in the development of artificial oxygen carriers and glucose sensors.
The Company`s development projects are primarily in the preliminary stages. The Company is diligently developing several applications for its primary development projects, but does not anticipate beginning any government protocols or clinical trials in the near term.
In 2002, the Board of Directors analyzed progress and outlook for all units and current projects within the group and assessed the key cost factors. In order to improve the probability of successful market entry for its key projects in the hemoglobin area, the Board initiated a comprehensive refocusing program aimed at cost reduction and fast market entry.
Group Structure -
In the pursuit of this program, the Company has begun to reduce the complexity of the group structure by closing the Singapore subsidiary, merging Sangui USA with the parent company Sangui BioTech International, Inc. and initiating the merger of the two German subsidiaries, GlukoMediTech AG and SanguiBioTech AG, into SanguiBioTech AG. The Company should benefit from the clearer focus of management attention and the decrease in consolidation efforts. Management expects to save approximately 50% of the group`s total accounting and auditing expenses, which, in fiscal 2002, amounted to more than $180,000.
Sangui Singapore`s operations used to encompass mainly a test laboratory serving the purpose of carrying out experiments on animals. The closing of the operations in Singapore is expected to result in annual savings of approximately $200,000 as the net loss of Sangui BioTech PTE Ltd. was approximately $220,000 and approximately $183,000 for the years ended June 30, 2002 and 2001, respectively.
After having sold the immunodiagnostic test kit business to Axis/Shield ASA and Biomerica, Inc. in the first quarter of fiscal year 2003, Sangui USA no longer had any significant operations within the group. Sangui USA, therefore, was merged with the parent company at the end of the second quarter of fiscal year 2003. In accordance with the Company`s goals and plan of restructuring, Sangui Singapore and Sangui USA are presented as discontinued operations in the accompanying consolidated financial statements.
In the course of the merger of the two German subsidiaries it was resolved to reduce further expenditures in the blood substitute, blood additive and glucose sensor projects to the amount necessary to find financing, industrial or distribution partners for further development and marketing of the resulting products.
Cost Savings
As will be discussed below, the ongoing cost-cutting exercise has already contributed to reducing the operating expenditures of the Company. Management has begun to implement more efficient processes and shift to alternative suppliers and materials offering better price-performance ratios. Remaining staff has been shifted to work on the most promising projects, in particular on the external applications of oxygen carriers, while expenses for long-term development projects have been reduced. With regard to the long-term projects, management focuses on identifying strategic industry and financing partners. All costly external projects and orders have been terminated or delayed. In the course of this process, the number of employees was reduced by 57% to 13 fulltime employees at March 31, 2003 from 30 employees at June 30, 2002. Contracts with 6 employees are due to expire at the beginning of the fourth quarter of fiscal 2003.
On the other hand, consulting and legal fees related to the restructuring have resulted in non-recurring expenses of approximately $ 224,000 in the first nine months of fiscal 2003. Management believes, that additional opportunities for significant cost savings will be identified. Special attention is being paid to the pending lawsuits (see below). Management has requested its attorneys to take the steps necessary to dismiss the liability claim.
In total, management has been able to reduce the Company`s operating expenses by 43% to approximately $1.7 million in the first nine months of fiscal 2003, compared to approximately $3.0 million in the respective period of last fiscal year. This is partially due to the elimination of amortization expense related to prepaid consulting fees which were written off at June 30, 2002, and to the cancellation of stock options at the end of fiscal 2002. Research and development expenses and general and administrative expenses have been reduced by 15 % and 24 %, respectively, in the first nine months of fiscal 2003 as compared to the respective period of last fiscal year. This effort is also reflected in the net cash used in operating activities which decreased 30% to approximately $1.5 million from last year`s approximately $2.1 million. Management, therefore, assumes that the current planning is realistic and that the Company`s funds and liquidity are sufficient to finance its activities at least through the period ending March 31, 2004.
FINANCIAL POSITION
The Company`s current assets decreased approximately $2 million, or 48%, from June 30, 2002 to approximately $2.1 million at March 31, 2003. The decrease is primarily attributable to a decrease in cash and cash equivalents of approximately $700,000, a decrease in available for sale securities of approximately $844,000, a decrease in grant receivable of approximately $214,000, a decrease in accounts receivable of approximately $85,000, and a decrease in inventories of approximately $52,000. The decrease in cash and cash equivalents and available for sale securities results primarily from funding the current year`s operations of the Company with little or no revenues in the three and nine month periods ended March 31, 2003.
The Company`s net property and equipment decreased approximately $292,000, or 57%, from June 30, 2002 to approximately $218,000 at March 31, 2003. The decrease is primarily attributable to the Company`s write-off of approximately $107,000 of leasehold improvements at Sangui Singapore and current year depreciation of approximately $221,000.
The Company funded its operations primarily through its existing cash reserves. The Company`s stockholders` equity decreased approximately $1.8 million. The primary decrease is caused by the Company`s current period net loss of approximately $1.7 million, and a decrease in accumulated other comprehensive income of approximately $125,000 due to foreign currency translation adjustments and unrealized losses on marketable securities.
RESULTS OF OPERATIONS
-
Three Months Ended March 31, 2003 and 2002:
Sangui AG - RESEARCH AND DEVELOPMENT. Research and development expenses decreased 17% to approximately $135,000 in 2003 from approximately $162,000 in 2002. The decrease is due to the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses increased 76% to approximately $181,000 in 2003 from approximately $103,000 in 2002. This increase is mainly attributed to legal costs incurred for the execution of the ongoing refocusing program.
DEPRECIATION. Depreciation increased 318% to approximately $117,000 in 2003 from approximately $28,000 in 2002. This increase is mainly attributed to the ongoing restructuring of the German subsidiaries.
Gluko AG RESEARCH AND DEVELOPMENT. Research and development expenses increased 21% to approximately $173,000 in 2003 from approximately $143,000 in 2002. The increase is due to compensation and payoffs in the course of the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses increased 22% to approximately $72,000 in 2003 from approximately $59,000 in 2002. This increase is mainly attributed to legal costs incurred for the execution of the ongoing refocusing program.
Sangui BioTech International, Inc. - GENERAL AND ADMINISTRATIVE. General and administrative expenses were approximately $9,000 in 2003 and approximately $16,000 in 2002.
COMPENSATION EXPENSE RELATED TO STOCK OPTIONS. Compensation expense related to stock options was $250,000 in 2002, which represented the amortization of the fair value of stock options previously issued to the chairman of the Company. Effective June 30, 2002, these options were cancelled and there is no compensation expense related to stock options in the three months ended March 31, 2003.
AMORTIZATION OF PREPAID CONSULTING FEES. Amortization of prepaid consulting fees was $110,000 in 2002. At June 30, 2002, management determined that no more benefit would be received in relation to the prepaid consulting fees and accordingly the unamortized balance was written off in fiscal 2002. Thus, there was no amortization in the three months ended March 31, 2003.
Consolidated NET LOSS. As a result of the above factors and the loss from discontinued operations (see Note 5), the Company`s consolidated net loss was approximately $662,000, or $0.02 per common share, in 2003, compared to approximately $1 million, or $0.03 per common share, in 2002.
RESULTS OF OPERATIONS
-
Nine months Ended March 31, 2003 and 2002:
Sangui AG - RESEARCH AND DEVELOPMENT. Research and development expenses decreased 25% to approximately $304,000 in 2003 from approximately $407,000 in 2002. The decrease is due to the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses increased 17% to approximately $460,000 in 2003 from approximately $393,000 in 2002. This increase is mainly attributed to the ongoing refocusing program.
DEPRECIATION. Depreciation increased 137% to approximately $185,000 in 2003 from approximately $78,000 in 2002. This increase is mainly attributed to the ongoing restructuring of the German subsidiaries.
Gluko AG RESEARCH AND DEVELOPMENT. Research and development expenses decreased 6% to approximately $408,000 in 2003 from approximately $432,000 in 2002. The decrease is due to the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses decreased 3% to approximately $195,000 in 2003 from approximately $201,000 in 2002. This decrease is mainly attributed to the ongoing refocusing program.
Sangui BioTech International, Inc. GENERAL AND ADMINISTRATIVE. General and administrative expenses decreased 71% to approximately $124,000 in 2003 from approximately $425,000 in 2002. This decrease is related to legal costs incurred in 2002 by the Company in a lawsuit against a former director of the Company and a decrease in professional and consulting fees.
COMPENSATION EXPENSE RELATED TO STOCK OPTIONS. Compensation expense related to stock options was $750,000 in 2002, which represented the amortization of the fair value of stock options previously issued to the chairman of the Company. Effective June 30, 2002, these options were cancelled and there is no compensation expense related to stock options in the nine months ended March 31, 2003.
AMORTIZATION OF PREPAID CONSULTING FEES. Amortization of prepaid consulting fees was $330,000 in 2002. At June 30, 2002, management determined that no more benefit would be received in relation to the prepaid consulting fees and accordingly the unamortized balance was written off in fiscal 2002. Thus, there was no amortization in the nine months ended March 31, 2003.
Consolidated NET LOSS. As a result of the above factors and the loss from discontinued operations (see Note 5), the Company`s consolidated net loss was approximately $1.7 million, or $0.04 per common share, in 2003, compared to approximately $3.4 million, or $0.08 per common share, in 2002.
LIQUIDITY AND CAPITAL RESOURCES
-
For the nine months ended March 31, 2003, net cash used in operating activities decreased to approximately $1.5 million from approximately $2.1 million in the corresponding period in 2002, primarily related to a decrease in the Company`s consolidated net loss as a result of the ongoing refocusing program.
For the nine months ended March 31, 2003, net cash provided by investing activities increased to approximately $801,000 from approximately $614,000 in the corresponding period in 2002. The principal increase in cash is due to the maturity of marketable securities and decrease in purchases of marketable securities.
Working capital was approximately $2.0 million at March 31, 2003, a decrease of approximately $1.5 million from June 30, 2002 due primarily to the Company`s net loss for the nine month period. A substantial portion of the Company`s total assets consists of cash and highly liquid marketable securities classified as available for sale securities. The highly liquid nature of these assets provides the Company with flexibility in financing and managing its business. For the nine-months ended March 31, 2003, realized gains on the Company`s marketable securities were approximately $54,000, and unrealized net losses were approximately $83,000.
At March 31, 2003, the Company had cash and liquid marketable securities of approximately $1.8 million. The Company believes that its available cash will be sufficient to satisfy its requirements at least through the period ending March 31, 2004. However, the Company will need substantial additional funding to fulfil its business plan and the Company intends to explore financing sources for its future development activities. No assurance can be given that these efforts will be successful.
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--------------------------------------------------------------------------------
15-May-2003
Quarterly Report
ITEM 2 - MANAGEMENT`S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS
-
Forward-looking Statements
The following discussion of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and the related notes thereto included elsewhere in this quarterly report. Some of the information in this quarterly report contains forward-looking statements, including statements related to anticipated operating results, margins, growth, financial resources, capital requirements, adequacy of the Company`s financial resources, trends in spending on research and development, the development of new markets, the development, regulatory approval, manufacture, distribution, and commercial acceptance of new products, and future product development efforts. Investors are cautioned that forward-looking statements involve risks and uncertainties, which may affect our business and prospects, including but not limited to, the Company`s expected need for additional funding and the uncertainty of receiving the additional funding, changes in economic and market conditions, acceptance of our products by the health care and reimbursement communities, new development of competitive products and treatments, administrative and regulatory approval and related considerations, health care legislation and regulation, and other factors discussed in our filings with the Securities and Exchange Commission.
GENERAL
-
The Company is primarily involved in the development of artificial oxygen carriers and glucose sensors.
The Company`s development projects are primarily in the preliminary stages. The Company is diligently developing several applications for its primary development projects, but does not anticipate beginning any government protocols or clinical trials in the near term.
In 2002, the Board of Directors analyzed progress and outlook for all units and current projects within the group and assessed the key cost factors. In order to improve the probability of successful market entry for its key projects in the hemoglobin area, the Board initiated a comprehensive refocusing program aimed at cost reduction and fast market entry.
Group Structure -
In the pursuit of this program, the Company has begun to reduce the complexity of the group structure by closing the Singapore subsidiary, merging Sangui USA with the parent company Sangui BioTech International, Inc. and initiating the merger of the two German subsidiaries, GlukoMediTech AG and SanguiBioTech AG, into SanguiBioTech AG. The Company should benefit from the clearer focus of management attention and the decrease in consolidation efforts. Management expects to save approximately 50% of the group`s total accounting and auditing expenses, which, in fiscal 2002, amounted to more than $180,000.
Sangui Singapore`s operations used to encompass mainly a test laboratory serving the purpose of carrying out experiments on animals. The closing of the operations in Singapore is expected to result in annual savings of approximately $200,000 as the net loss of Sangui BioTech PTE Ltd. was approximately $220,000 and approximately $183,000 for the years ended June 30, 2002 and 2001, respectively.
After having sold the immunodiagnostic test kit business to Axis/Shield ASA and Biomerica, Inc. in the first quarter of fiscal year 2003, Sangui USA no longer had any significant operations within the group. Sangui USA, therefore, was merged with the parent company at the end of the second quarter of fiscal year 2003. In accordance with the Company`s goals and plan of restructuring, Sangui Singapore and Sangui USA are presented as discontinued operations in the accompanying consolidated financial statements.
In the course of the merger of the two German subsidiaries it was resolved to reduce further expenditures in the blood substitute, blood additive and glucose sensor projects to the amount necessary to find financing, industrial or distribution partners for further development and marketing of the resulting products.
Cost Savings
As will be discussed below, the ongoing cost-cutting exercise has already contributed to reducing the operating expenditures of the Company. Management has begun to implement more efficient processes and shift to alternative suppliers and materials offering better price-performance ratios. Remaining staff has been shifted to work on the most promising projects, in particular on the external applications of oxygen carriers, while expenses for long-term development projects have been reduced. With regard to the long-term projects, management focuses on identifying strategic industry and financing partners. All costly external projects and orders have been terminated or delayed. In the course of this process, the number of employees was reduced by 57% to 13 fulltime employees at March 31, 2003 from 30 employees at June 30, 2002. Contracts with 6 employees are due to expire at the beginning of the fourth quarter of fiscal 2003.
On the other hand, consulting and legal fees related to the restructuring have resulted in non-recurring expenses of approximately $ 224,000 in the first nine months of fiscal 2003. Management believes, that additional opportunities for significant cost savings will be identified. Special attention is being paid to the pending lawsuits (see below). Management has requested its attorneys to take the steps necessary to dismiss the liability claim.
In total, management has been able to reduce the Company`s operating expenses by 43% to approximately $1.7 million in the first nine months of fiscal 2003, compared to approximately $3.0 million in the respective period of last fiscal year. This is partially due to the elimination of amortization expense related to prepaid consulting fees which were written off at June 30, 2002, and to the cancellation of stock options at the end of fiscal 2002. Research and development expenses and general and administrative expenses have been reduced by 15 % and 24 %, respectively, in the first nine months of fiscal 2003 as compared to the respective period of last fiscal year. This effort is also reflected in the net cash used in operating activities which decreased 30% to approximately $1.5 million from last year`s approximately $2.1 million. Management, therefore, assumes that the current planning is realistic and that the Company`s funds and liquidity are sufficient to finance its activities at least through the period ending March 31, 2004.
FINANCIAL POSITION
The Company`s current assets decreased approximately $2 million, or 48%, from June 30, 2002 to approximately $2.1 million at March 31, 2003. The decrease is primarily attributable to a decrease in cash and cash equivalents of approximately $700,000, a decrease in available for sale securities of approximately $844,000, a decrease in grant receivable of approximately $214,000, a decrease in accounts receivable of approximately $85,000, and a decrease in inventories of approximately $52,000. The decrease in cash and cash equivalents and available for sale securities results primarily from funding the current year`s operations of the Company with little or no revenues in the three and nine month periods ended March 31, 2003.
The Company`s net property and equipment decreased approximately $292,000, or 57%, from June 30, 2002 to approximately $218,000 at March 31, 2003. The decrease is primarily attributable to the Company`s write-off of approximately $107,000 of leasehold improvements at Sangui Singapore and current year depreciation of approximately $221,000.
The Company funded its operations primarily through its existing cash reserves. The Company`s stockholders` equity decreased approximately $1.8 million. The primary decrease is caused by the Company`s current period net loss of approximately $1.7 million, and a decrease in accumulated other comprehensive income of approximately $125,000 due to foreign currency translation adjustments and unrealized losses on marketable securities.
RESULTS OF OPERATIONS
-
Three Months Ended March 31, 2003 and 2002:
Sangui AG - RESEARCH AND DEVELOPMENT. Research and development expenses decreased 17% to approximately $135,000 in 2003 from approximately $162,000 in 2002. The decrease is due to the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses increased 76% to approximately $181,000 in 2003 from approximately $103,000 in 2002. This increase is mainly attributed to legal costs incurred for the execution of the ongoing refocusing program.
DEPRECIATION. Depreciation increased 318% to approximately $117,000 in 2003 from approximately $28,000 in 2002. This increase is mainly attributed to the ongoing restructuring of the German subsidiaries.
Gluko AG RESEARCH AND DEVELOPMENT. Research and development expenses increased 21% to approximately $173,000 in 2003 from approximately $143,000 in 2002. The increase is due to compensation and payoffs in the course of the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses increased 22% to approximately $72,000 in 2003 from approximately $59,000 in 2002. This increase is mainly attributed to legal costs incurred for the execution of the ongoing refocusing program.
Sangui BioTech International, Inc. - GENERAL AND ADMINISTRATIVE. General and administrative expenses were approximately $9,000 in 2003 and approximately $16,000 in 2002.
COMPENSATION EXPENSE RELATED TO STOCK OPTIONS. Compensation expense related to stock options was $250,000 in 2002, which represented the amortization of the fair value of stock options previously issued to the chairman of the Company. Effective June 30, 2002, these options were cancelled and there is no compensation expense related to stock options in the three months ended March 31, 2003.
AMORTIZATION OF PREPAID CONSULTING FEES. Amortization of prepaid consulting fees was $110,000 in 2002. At June 30, 2002, management determined that no more benefit would be received in relation to the prepaid consulting fees and accordingly the unamortized balance was written off in fiscal 2002. Thus, there was no amortization in the three months ended March 31, 2003.
Consolidated NET LOSS. As a result of the above factors and the loss from discontinued operations (see Note 5), the Company`s consolidated net loss was approximately $662,000, or $0.02 per common share, in 2003, compared to approximately $1 million, or $0.03 per common share, in 2002.
RESULTS OF OPERATIONS
-
Nine months Ended March 31, 2003 and 2002:
Sangui AG - RESEARCH AND DEVELOPMENT. Research and development expenses decreased 25% to approximately $304,000 in 2003 from approximately $407,000 in 2002. The decrease is due to the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses increased 17% to approximately $460,000 in 2003 from approximately $393,000 in 2002. This increase is mainly attributed to the ongoing refocusing program.
DEPRECIATION. Depreciation increased 137% to approximately $185,000 in 2003 from approximately $78,000 in 2002. This increase is mainly attributed to the ongoing restructuring of the German subsidiaries.
Gluko AG RESEARCH AND DEVELOPMENT. Research and development expenses decreased 6% to approximately $408,000 in 2003 from approximately $432,000 in 2002. The decrease is due to the refocusing of research and development activities.
GENERAL AND ADMINISTRATIVE. General and administrative expenses decreased 3% to approximately $195,000 in 2003 from approximately $201,000 in 2002. This decrease is mainly attributed to the ongoing refocusing program.
Sangui BioTech International, Inc. GENERAL AND ADMINISTRATIVE. General and administrative expenses decreased 71% to approximately $124,000 in 2003 from approximately $425,000 in 2002. This decrease is related to legal costs incurred in 2002 by the Company in a lawsuit against a former director of the Company and a decrease in professional and consulting fees.
COMPENSATION EXPENSE RELATED TO STOCK OPTIONS. Compensation expense related to stock options was $750,000 in 2002, which represented the amortization of the fair value of stock options previously issued to the chairman of the Company. Effective June 30, 2002, these options were cancelled and there is no compensation expense related to stock options in the nine months ended March 31, 2003.
AMORTIZATION OF PREPAID CONSULTING FEES. Amortization of prepaid consulting fees was $330,000 in 2002. At June 30, 2002, management determined that no more benefit would be received in relation to the prepaid consulting fees and accordingly the unamortized balance was written off in fiscal 2002. Thus, there was no amortization in the nine months ended March 31, 2003.
Consolidated NET LOSS. As a result of the above factors and the loss from discontinued operations (see Note 5), the Company`s consolidated net loss was approximately $1.7 million, or $0.04 per common share, in 2003, compared to approximately $3.4 million, or $0.08 per common share, in 2002.
LIQUIDITY AND CAPITAL RESOURCES
-
For the nine months ended March 31, 2003, net cash used in operating activities decreased to approximately $1.5 million from approximately $2.1 million in the corresponding period in 2002, primarily related to a decrease in the Company`s consolidated net loss as a result of the ongoing refocusing program.
For the nine months ended March 31, 2003, net cash provided by investing activities increased to approximately $801,000 from approximately $614,000 in the corresponding period in 2002. The principal increase in cash is due to the maturity of marketable securities and decrease in purchases of marketable securities.
Working capital was approximately $2.0 million at March 31, 2003, a decrease of approximately $1.5 million from June 30, 2002 due primarily to the Company`s net loss for the nine month period. A substantial portion of the Company`s total assets consists of cash and highly liquid marketable securities classified as available for sale securities. The highly liquid nature of these assets provides the Company with flexibility in financing and managing its business. For the nine-months ended March 31, 2003, realized gains on the Company`s marketable securities were approximately $54,000, and unrealized net losses were approximately $83,000.
At March 31, 2003, the Company had cash and liquid marketable securities of approximately $1.8 million. The Company believes that its available cash will be sufficient to satisfy its requirements at least through the period ending March 31, 2004. However, the Company will need substantial additional funding to fulfil its business plan and the Company intends to explore financing sources for its future development activities. No assurance can be given that these efforts will be successful.
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"Impacts of diabetes and associated secondary conditions on costs in the healthcare system"
first previous next last
22/11/2001
"Impacts of diabetes and associated secondary conditions on costs in the healthcare system"
Detlev Freiherr von Linsingen, member of the board of the Sangui Group, in discussion with Dr Martina Schilling, specialist in internal medicine, diabetician (German Diabetes Society, DDG), scientific consultant to Deutsche Krankenversicherung AG (DKV)
Professional discussion at the Medica fair in Düsseldorf at 3.00 pm on Thursday 22.11.2001 in Hall 3, Stand E 73, GlukoMediTech AG
Diabetes mellitus is one of the most important widespread diseases worldwide. At least five per cent of the population in industrialised countries are affected by this disease. Experts estimate the number of unreported cases to be an additional two to three per cent on top of the official figure. The tendency is rising worldwide as prosperity increases, and the World Health Organisation (WHO) forecasts there will be around 300 million sufferers by the year 2025.
In Germany, the total economic costs associated with Type 2 diabetes are estimated at DEM 31.4 billion (direct and indirect costs) per year. DEM 18.5 billion of this total relate to payment of benefits from the statutory health-insurance fund, equivalent to around eight per cent of the total volume of benefits per year. These figures are taken from the European CODE 2 study (Cost of Diabetes in Europe of Type 2 Diabetes).
Interestingly enough, at 50% the lion`s share of health-insurance fund payments is spent on hospital treatment, most of which is necessitated by associated secondary conditions. Expenditure on medicines and diagnostics accounts for around 34 per cent of the health-insurance fund`s total costs. Only 25 per cent of this amount relates to the costs of blood-sugar control and stabilisation. "This means that, as a whole, less than 10% of all health-insurance fund expenditure is purely spent on treating `diabetes`," reckons Dr Martina Schilling. On the other hand, this means that three quarters of all medicine costs for the treatment of Type 2 diabetes are actually spent on accompanying diseases and secondary conditions. "It is clear that there is considerable potential for savings in this area as a whole," says Dr Schilling.
Satisfactory control and stabilisation of glycometabolism is one of the most important prerequisites for avoiding serious secondary conditions. Research is currently under way worldwide into various approaches to patient-friendly glucose measurement. Detlev Freiherr von Linsingen presents the concept of the Witten-based biotechnology company as follows: "GlukoMediTech AG is developing an implantable glucose sensor, which will allow continuous glucose monitoring around the clock." In combination with an insulin pump, even the development of artificial beta cells is conceivable.
By averting the need for just one patient to undergo dialysis, around five patients could be fitted with an implantable glucose sensor. This would probably be the best and most comfortable procedure imaginable for metabolism control. Together with good blood-sugar and, above all, blood-pressure stabilisation, kidney damage and with it the need for dialysis could be virtually eliminated. Similar calculations could be employed for other secondary conditions associated with diabetes such as amputations, blindness, myocardial infarction and stroke.
Contact:
MEDICA 21-24 November 2001, Hall 3, Stand E 73
Sangui BioTech International, Inc. - Dr Sieglinde Borchert, Chief Operating Officer
GlukoMediTech AG - Birgit Strautz, Project coordination
00 49-(0)2302-915200 (tel.), 00 49(0)2302-915201 (fax), borchert@sangui.de, strautz@sangui.de
00 1-714-429-7807 (tel.), 00 1-714-429-7808 (fax)
http://www.sangui.de
Exhibitor Data Sheet
fsv
first previous next last
22/11/2001
"Impacts of diabetes and associated secondary conditions on costs in the healthcare system"
Detlev Freiherr von Linsingen, member of the board of the Sangui Group, in discussion with Dr Martina Schilling, specialist in internal medicine, diabetician (German Diabetes Society, DDG), scientific consultant to Deutsche Krankenversicherung AG (DKV)
Professional discussion at the Medica fair in Düsseldorf at 3.00 pm on Thursday 22.11.2001 in Hall 3, Stand E 73, GlukoMediTech AG
Diabetes mellitus is one of the most important widespread diseases worldwide. At least five per cent of the population in industrialised countries are affected by this disease. Experts estimate the number of unreported cases to be an additional two to three per cent on top of the official figure. The tendency is rising worldwide as prosperity increases, and the World Health Organisation (WHO) forecasts there will be around 300 million sufferers by the year 2025.
In Germany, the total economic costs associated with Type 2 diabetes are estimated at DEM 31.4 billion (direct and indirect costs) per year. DEM 18.5 billion of this total relate to payment of benefits from the statutory health-insurance fund, equivalent to around eight per cent of the total volume of benefits per year. These figures are taken from the European CODE 2 study (Cost of Diabetes in Europe of Type 2 Diabetes).
Interestingly enough, at 50% the lion`s share of health-insurance fund payments is spent on hospital treatment, most of which is necessitated by associated secondary conditions. Expenditure on medicines and diagnostics accounts for around 34 per cent of the health-insurance fund`s total costs. Only 25 per cent of this amount relates to the costs of blood-sugar control and stabilisation. "This means that, as a whole, less than 10% of all health-insurance fund expenditure is purely spent on treating `diabetes`," reckons Dr Martina Schilling. On the other hand, this means that three quarters of all medicine costs for the treatment of Type 2 diabetes are actually spent on accompanying diseases and secondary conditions. "It is clear that there is considerable potential for savings in this area as a whole," says Dr Schilling.
Satisfactory control and stabilisation of glycometabolism is one of the most important prerequisites for avoiding serious secondary conditions. Research is currently under way worldwide into various approaches to patient-friendly glucose measurement. Detlev Freiherr von Linsingen presents the concept of the Witten-based biotechnology company as follows: "GlukoMediTech AG is developing an implantable glucose sensor, which will allow continuous glucose monitoring around the clock." In combination with an insulin pump, even the development of artificial beta cells is conceivable.
By averting the need for just one patient to undergo dialysis, around five patients could be fitted with an implantable glucose sensor. This would probably be the best and most comfortable procedure imaginable for metabolism control. Together with good blood-sugar and, above all, blood-pressure stabilisation, kidney damage and with it the need for dialysis could be virtually eliminated. Similar calculations could be employed for other secondary conditions associated with diabetes such as amputations, blindness, myocardial infarction and stroke.
Contact:
MEDICA 21-24 November 2001, Hall 3, Stand E 73
Sangui BioTech International, Inc. - Dr Sieglinde Borchert, Chief Operating Officer
GlukoMediTech AG - Birgit Strautz, Project coordination
00 49-(0)2302-915200 (tel.), 00 49(0)2302-915201 (fax), borchert@sangui.de, strautz@sangui.de
00 1-714-429-7807 (tel.), 00 1-714-429-7808 (fax)
http://www.sangui.de
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24. September 2003
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01. September 2003
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16. Juli 2003
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12. Juni 2003
Sangui setzt Kostensenkungskurs fort
20. Februar 2003
Sangui richtet alle Kraft auf Markteintritt mit hämoglobinhaltigen Nano-Emulsionen
fsv
Sangui und Mercatura unterzeichnen Absichtserklärung zur gemeinsamen Vermarktung eines Anti-Aging Produkts
05. Mai 2004
Aktueller Hinweis vom 05.05.2004 steht zum Herunterladen bereit.
17. Februar 2004
Aktueller Aktionärsbrief steht zum Herunterladen bereit
21. November 2003
Aktueller Aktionärsbrief steht zum Herunterladen bereit
24. September 2003
Malek tritt aus Sangui-Aufsichtsgremien zurück
01. September 2003
Rechtsformwechsel der deutschen Sangui Tochter in eine GmbH beschlossen
16. Juli 2003
Neue Direktoren im Verwaltungsrat (Board of Directors)
12. Juni 2003
Sangui setzt Kostensenkungskurs fort
20. Februar 2003
Sangui richtet alle Kraft auf Markteintritt mit hämoglobinhaltigen Nano-Emulsionen
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fsv...... aufkirchen/münchen
lady.....duisburg bei walsum
menglovator....
barytonesax....luxenburg/
aktientiger...heidelberg (fast)
wyso.....
flyermann....berlin berlin wir fahren nach berlin
willi.wichtig....
marcisun...hamburg schöne stadt
soitaer....
xtodaimand...
mfierke....
gruß fsv
hallo wolf.....pirmasens
fsv...... aufkirchen/münchen
lady.....duisburg bei walsum
menglovator....
barytonesax....luxenburg/
aktientiger...heidelberg (fast)
wyhso.....
flyermann....
willi.wichtig....
marcisun...hamburg schöne stadt
soitaer....
xtodaimand...
mfierke
gruß fsv
fsv...... aufkirchen/münchen
lady.....duisburg bei walsum
menglovator....
barytonesax....luxenburg/
aktientiger...heidelberg (fast)
wyhso.....
flyermann....
willi.wichtig....
marcisun...hamburg schöne stadt
soitaer....
xtodaimand...
mfierke
gruß fsv
guten morgen an alle 
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Sangui - Perle im Biotechsektor bald 1ooo % ?
