Sonoma Pharma Stock Is Trading Higher After Distribution Pact With EMC Pharma
- Sonoma Pharmaceuticals Inc (NASDAQ: SNOA) has entered into an agreement with EMC Pharma LLC for the exclusive right to manage, market, and distribute Sonoma's HOCl-based prescription dermatology and eye care products in the U.S. for an initial term of five years, subject to extension.
- EMC Pharma will also have a non-exclusive agreement to manage, market, and distribute certain Microcyn-based wound care products into government channels.
- As part of the partnership agreement, EMC will acquire all of the existing inventory and pay a royalty and transfer prices over the initial five-year term.
- The parties agreed on specific minimum purchase requirements.
- Price Action: SNOA shares are up 30.6% at $9.7 in the premarket trading on the last check Thursday.
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Posted-In: Dermatology Eye careBiotech News Health Care Contracts General
