VANGUARD PHARMACEUTICAL CORPORATION REJECTS RENATO CORPORATION INTEREST OWNERSHIP PROPOSAL
Miami, Fla—October 15, 2009—Renato Corporation (4OZ:DE)- board director Arunas Morkunas confirmed today that Vanguard Pharmaceutical Corporation has rejected the recent proposal from Renato to acquire a 40% interest in the company. “The board of directors of Vanguard believes the offer to be fiscally unsatisfactory”
At this juncture the board will consider its option of submitting a second proposal to Vanguard or pursuing similar opportunities in these markets.
The company continues to build on its non-invasive medical diagnostic technology operations.
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About Vanguard Pharmaceutical
Latin America is set to emerge as a globally significant market and its generics market is conservatively expected to reach US$6.4 billion by the year-end of 2009. Vanguard has been performing market price analysis of its drugs in several South American countries and has found their prices to be significantly lower than recent generic bid prices.
Vanguard is currently developing and evaluating subsidiary teams in Peru, Colombia, Brazil, and Paraguay who will bid on government tenders and distribute drugs in the private sector. Vanguard has recently travelled to both Peru and Colombia to set up teams in each country.
About Renato Corporation
Renato Corporation has decisively positioned itself to provide advanced diagnostic care via private clinics and health and wellness centers here in North America, and internationally. In addition the company is broadening its business base building generic pharmaceutical facilities in developing countries.
Our professionally staffed clinics will be equipped with the latest non invasive diagnostic devices available to date. Renato Corporation will ensure that non-invasive diagnostic technologies such as Thermography and Electronic Beam Tomography (EBT) body scanning will be accessible to the general public.
At Renato Corporation, it is our pledge to continually seek out the latest innovative advanced medical diagnostic technologies available to continually provide the very best affordable private health care to our clients.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
Contact: Arunas Morkunas, Director
Renato Corporation
305-438-6927 head office
www.renatocorp.com
