MIAMI BEACH, Fla., Nov. 15, 2011 /PRNewswire/ -- Biotechnology leader Divine Skin Inc., (OTC Bulletin Board: DSKX) which develops personal care products, posted revenue of $2.1 million for the third quarter, up 35 percent from 2010. The rapidly expanding company reported nine-month revenue of $6.6 million, up 74 percent from last year.
"We are on track for another record-breaking year," said Divine Skin CEO Daniel Khesin. "These days, there are so many opportunities to commercialize new scientific discoveries, and we are taking full advantage. We couldn't be in a better position right now."
The positive results came after a busy quarter of big announcements.
In July: Divine Skin expanded into the lucrative market for supplements by partnering with NutraOrigin, developer of 63 blends of nutritional formulas; and the company launched a global partnership with India's huge Ranbaxy Laboratories to sell its DS Laboratories line of hair-growth treatments worldwide.In August: Divine Skin debuted a new molecule, Nanoxidil, designed to stimulate follicles at the vertex of the scalp, eventually to surpass minoxidil for efficacy and tolerability; and it entered into new distribution agreements for South Korea, Canada, Australia, Taiwan, South Africa, Belgium, and Finland. In September: Divine Skin launched the market's first topical treatment to incorporate astressin-B, a complex peptide newly discovered to regrow hair on bald mice. The company also became the first to synthesize the peptide for human use in a cosmetic product, marketed as Spectral.F7 under the DS Laboratories brand. About Divine Skin Divine Skin Inc. leads in the development of biotechnology for topical, nutritional, and pharmaceutical therapies. It markets worldwide through online and specialty retailers, cosmetics wholesalers, salons, and medical offices. The fast-growing company went public in 2009.