Immuron's Travelan launches in Canada
Immuron (ASX:IMC) has revealed that its OTC travellers’ diarrhoea treatment Travelan has launched in Canada, thanks to marketing partner Paladin Labs.
Announcing the debut, Paladin Labs said there are over five million trips made by Canadians to at-risk regions for travellers’ diarrhoea each year, and that research indicates that three quarters of Canadians would take preventative medicine for the condition.
In 2011, Immuron signed a distribution deal with Paladin Labs worth up to C$115 million ($112.8 million). The deal gives Paladin Labs exclusive rights to distribute Travelan in Canada, Latin America and Sub-Saharan Africa.
Travelan secured regulatory approval in Canada in November 2013. Paladin is distributing the product in the market with a suggested retail price of C$29.99-C$39.99 for a pack of 30 tablets.
Last month, Immuron announced that the company generated over $1 million in sales revenue from Travelan during FY14. Revenues increased sevenfold from $150,000 in FY13.
The company attributed the strong growth in part to its transition to a direct-to-wholesalers sales model in Australia and New Zealand, as announced last year.
Immuron (ASX:IMC) shares were trading unchanged at $0.005 as of around 12.30 pm on Wednesday.
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