BioLife Expects QR Stop-Bleeding Products To Dramatically Boost Revenues
This article was originally published in The Tan Sheet
Executive Summary
BioLife believes it can reach $5 mil. in FY 2003 sales driven by increased revenues from its UrgentQR stop-bleeding product and other similar offerings in the scab-forming powder line
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BioLife believes it can reach $5 mil. in FY 2003 sales driven by increased revenues from its UrgentQR stop-bleeding product and other similar offerings in the scab-forming powder line. Ongoing expansion of the QR line's distribution is helping to considerably increase product sales, which totaled $200,000 in 2002, a spokesperson for the Sarasota, Fl.-based firm said. UrgentQR and NosebleedQR currently are carried by CVS, Brooks and Wal-Mart, according to Biolife, while Albertsons and Rite Aid will begin distributing UrgentQR in December and January, respectively. Kid'sQR is set to appear in CVS next spring, the firm rep added. A fourth variation, SportsQR , is being carried in Dick's Sporting Goods stores and is marketed to athletic trainers. BioLife says it is in negotiations to extend the brand's distribution to Target, Kroger and Walgreens. The QR line officially launched in July. Clarke Advertising (Sarasota) is heading promotional efforts for the brand, which include free samples, pharmacy fliers and coupons packaged with generic aspirin and prescriptions for Bristol-Myers Squibb's Coumadin . Biolife also stated that UrgentQR will be included in First Aid Only's first aid kits beginning in 2004. UrgentQR, NosebleedQR and Kid'sQR contain identical formulations of QR "quick relief" topical powder designed to stop external bleeding. Hydrophilic polymer and potassium salt in the powder bind with proteins in the blood to form a " Hematrix scab" over an open wound. UrgentQR and Kid'sQR are available in four-count blister packs, while NosebleedQR contains two-count blister packs along with two cotton swabs. Biolife's 1 website states "this unique matrix covers and stops the bleeding, protects the wound and allows the body's own mechanism to begin healing." Biolife's QR products will be competing against products such as Johnson & Johnson's Band-Aid Liquid Bandage which launched last year (2 (Also see "J&J Band-Aid Liquid Bandage Labeling Stresses “Fast Healing” Benefits" - Pink Sheet, 18 Mar, 2002.), p. 19). |