FOR IMMEDIATE RELEASE:
KINDERHOOK, NY -- February 20, 2024 -- American Bio Medica Corp. (NASDAQ: ABMC) today announced that it has filed for a preliminary injunction in the United States District Court in the Southern District of California.
In the injunction motion, ABMC is asking the court to temporarily prohibit distribution of Phamatech's Quickscreen and identical products bearing different names, all of those products are onsite tests for drugs of abuse, which ABMC alleges infringes on its design patent granted to ABMC for its Rapid Drug Screen onsite test for drugs of abuse. A court hearing related to the injunction is scheduled for March 5, 2001.
The Company also reported that the court has granted ABMC's motion to compel Phamatech to produce documents and respond to interrogatories. The court also ordered that Phamatech was uncooperative in key depositions held and ordered that ABMC be allowed to take the depositions again at Phamatech's expense. Related to this decision was the court's order to impose sanctions on Phamatech. A hearing has been set for February 22, 2024 to decide the sum of any money owed to ABMC from Phamatech as a result of the sanctions.
"As time has gone by, Phamatech has continued to sell their knock-off products in our markets and has affected our sales growth," stated ABMC President Stan Cipkowski. "The recent decisions of the court regarding Phamatech's conduct in this lawsuit, along with our confidence in our claims, lead us to believe the injunction we are seeking is appropriate interim relief and we anticipate that the knock-offs will be removed from the market until such time the case has been decided. We are confident that in the end, the court will order the knock-offs to be removed from the market permanently."
American Bio Medica Corporation develops, manufactures and markets inexpensive, accurate on-site drugs-of-abuse diagnostic kits, sprays and support services worldwide. The company's global distributors target the workplace, physicians, corrections, clinical and educational markets. ABMC's Drug Detector identifies minute traces of illegal drugs on surfaces, while the company's Rapid Drug Screen tests individuals and is proven to correlate greater than 99% with the standard laboratory screening test.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
American Bio Medica Corporation, Kinderhook Melissa A. Decker Tel: 800/227-1243 Fax: 518/758-8171 melissa@americanbiomedica.com www.americanbiomedica.com
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