Okay, so ever since I wrote the Nicosan Woes post, I’ve gotten several people wanting to know what’s the new scoop on Xechem. I’ve kept my ears to the ground, and after emailing a few great Nicosan friends and supporters, have found out that things seem to be looking better and brighter for Nicosan. I won’t go into too much detail on the particulars, since I don’t want to jinx anything, but here is the word on the streets…
Although the company Xechem did file for bankruptcy in 2008; the formula for Nicosan doesn’t belong to Xechem, it belongs to NIPRD (which is the National Institute for Pharmaceutical Research and Development). Anyway, due to the instability of Xechem in 2008, NIPRD revoked the production license of Nicosan through Xechem.
The factory is still intact however, and several awesome and passionate people have been working around the clock for the last couple of months trying to get everything squared away on the financial and legal front so that production can start again.
Alot of investors are needed to financially back the new management that took over Xechem and this is one of the holdups. However, once the money part is squared away, NIPRD should be giving the license back to the new Xechem (and I’m not sure if it’s going to be called Xechem any longer), once the new management has proven that they are capable of running the company and Nicosan the way it’s supposed to be run.
The good news is that the people at the helm now are dedicated and absolutely determined to get Nicosan back on the market as fast as possible, and even continue the process to getting it approved in the US. One of the original scientists who helped in developing the formula is also back in the picture, and I know that the company is going in the right direction—finally!
This has eased alot of my anxiety, just knowing that the transition is occurring and the process is moving forward. We still need your prayers and support to get the final kinks worked out in Nigeria with all the stakeholders involved. And of course, if anyone would like information in investing towards Nicosan, I can lead you to the right people.
If anyone has any other information, questions or contributions, please leave a comment or shoot me an email.