In the report, the analyst writes, “Mitopharm Corporation (MTPM) is a development-stage biotechnology company involved in the research and development, marketing and sales of functional beverages, dietary supplements and drugs. The Company employs the latest technologies in biochemistry, pharmacology and Traditional Chinese Medicinal (TCM) formulas to research and develop new drugs. The Company’s products, Restorade and Stamina Solution, are based on a newly discovered compound, which has biochemical properties that aid in countering the effects of aging.”

Globally, biotechnology is one of the fastest growing sectors of the healthcare market. Biotechnology involves diverse activities including pharmaceutical development, medical devices and research services. Worldwide biotechnology revenues have grown from $22.3 billion in 2000 to approximately $50 billion in 2005. In the US, the biotechnology industry generated revenues of $32 billion in 2005. As the US population ages, spending on health care is expected to rise due to increasing demand for drugs and medical devices.

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