Tetra Bio Pharma (TSXV: TBP) released information on its commercialization effort this morning related to two products that received Health Canada approval last week. The company has selected a contract manufacturer for both products, which is expected to begin manufacturing in the upcoming weeks.
The manufacturer is to produce both Terpacan Back and Muscle Pain, as well as Terpacan Hemorrhoids products for that of Tetra Bio Pharma. The manufacturer, whom is currently unnamed, will be creating test batches of products for the company in the interim, leaving Tetra able to focus on marketing and finalizing commercial supply agreements.
In related news, Tetra has also finalized the selection of the firm that will be performing contract sales functions for the company. The company will be marketing both Terpacan products across Canada, along with the company’s Awaye portfolio of products. The latter is expected to see distribution to the Middle East as well in the coming months. A definitive agreement with the contract sales team had yet to be signed, however it appears to Tetra is steadily moving towards this stage. Upon signing, the company will announce whom will be performing the function for the firm.
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The company intends to also expand the mandate with the selected contract sales team to the United States upon receiving National Drug Code’s for the Terpacan products from the FDA.
Using a CSO [contract sales organization] at this stage is our best option to achieve value for our shareholders. The CSO will allow Tetra to maximize our ability to sell our retail products with an established and reputed sales organization. We intend to sell these products globally and to continue to expand these product lines and maintain our lead as an innovator in the world of botanical medicines.
Dr. Guy Chamberland, CEO and Chief Regulatory Officer
Tetra is also in advanced discussions for the regional manufacturing and distribution of the Awaye product line within the middle east. The firm is to also perform sales and distribution functions for the product line. A second firm in the region has also be approached for the a licensing and sales partnership for both the Terpacan and Awaye product lines.
The firm also reiterated its commercialization target for Terpacan products in Canada as being mid-2020.
Tetra Bio Pharma last traded at $0.65 on the TSX Venture.
Information for this briefing was found via Sedar, Health Canada and Tetra Bio-Pharma. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
