Immuron signs SK distribution deal for Travelan
Immuron (ASX:IMC) has signed on a South Korean distributor for Travelan, its OTC treatment for travellers’ diarrhoea.
Immuron has granted DB Pharm Korea exclusive rights to market, distribute and sell Travelan in the market.
Under the terms of the deal, DB Pharm Korea will need to obtain regulatory approval from the Korean Food and Drug Administration for Travelan as an over-the-counter drug. The distributor will also be required to meet pre-specified minimum order obligations.
DB Pharm Korea plans to market Travelan to overseas travellers, particularly to Southeast Asian nations, and to domestic patients with diarrhoea.
The company’s business model involves in-licensing market-ready products and using its network of sub-distributors to serve hospitals and clinics throughout South Korea.
Immuron sells Travelan directly to wholesalers in Australia and New Zealand. In 2011, the company signed a distribution deal worth C$115 million ($113.9 million) with Paladin Labs, covering the markets of Canada, Latin America and sub-Saharan Africa.
Immuron (ASX:IMC) shares were trading unchanged at $0.005 as of around 1.30 pm on Thursday.
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