FOR IMMEDIATE RELEASE: Contract is Largest International Order for ABMC Drug Test KINDERHOOK, NY -- April 23, 2024 -- American Bio Medica Corp. (NASDAQ: ABMC) today announced that its Mexican distributor, Laboratorios Devor S.A. de C.V., has signed a contract to supply the Mexican government with American Bio Medica's Rapid Drug Screen, its onsite test for drugs of abuse. The deal represents the largest international order for Rapid Drug Screen. Under the contract, the Mexican government will order 56,000 units of the Rapid Drug Screen over a period of 90 days. The contract was granted through Laboratorios Devor, whose products and services range from a full service lab specialized in drugs of abuse and psychological testing to medical and polygraph services. According to Robert L. Aromando Jr., chief executive officer of ABMC, the Mexican government chose the Rapid Drug Screen for its ease of use, accuracy and cost effectiveness. "We are beginning to see sales as a result of our product's performance, and the strong work of Laboratorios Devor in what has essentially been an untapped market," stated Aromando. "Latin America is an emerging strategic opportunity for ABMC, and this deal is a benchmark to help establish a leading presence there." "It speaks volumes that our product was selected by the Mexican government -- a nation integrally involved in the international war on drugs. Rapid Drug Screen has been chosen as a front-line weapon." 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. Contact: American Bio Medica Corp., Kinderhook Melissa A. Decker Manager Investor Relations & Corporate Communications Email: melissa@americanbiomedica.com Tel: (800) 227-1243 Fax: (518) 758-8171 Web: www.americanbiomedica.com |