Med Gen Posts Unaudited Revenue; 850 Percent Increase
Med Gen Inc. (OTCBB: MGEN) posted its unaudited revenue as of July 21, 2007, yesterday, reporting an 850 percent increase over the same period last year. Med Gen, manufacturer and marketer of specialty OTC products, reported that its unaudited revenue for the year so far is $1.7 million; monthly unaudited revenue as of July 21, 2007, was up 3,000 percent to $252,658 as compared to last year. This is good news for any biotech company; according to Paul Kravitz, Med Gen chairman and CEO, most biotech companies aren't profitable for years. "We have ... tried to explain to people that…