Immuron to sell Travelan straight to wholesalers
Immuron (ASX:IMC) is adopting a direct-to-wholesalers model for Australian sales of Travelan, its OTC preventative treatment for travellers’ diarrhoea.
The company has arranged to terminate its current agreement with existing distributor Takeda Pharmaceuticals Australia in return for an undisclosed transitional payment.
Immuron has now regained the exclusive right to sell Travelan in Australia and New Zealand, although Tekeda will retain the right to sell through its existing inventories up until the end of the month.
Immuron interim CEO Amos Meltzer said he expects the direct-to-wholesalers model to help the company generate higher revenues and gross margins from its domestic Travelan sales.
“This is the first of a set of measures that are intended to improve the company’s financial position,” he said.
Immuron first entered its licence agreement with Takeda Pharmaceuticals Australia - then known as Nycomed - in April 2010.
In 2011, the company secured a distribution and licensing deal for Travelan with Canada’s Paladin Labs. The deal, worth up to C$113 million ($109.8 million), covers Canada, Latin America and sub-Saharan Africa.
Immuron is also working on a prospective treatment for hospital superinfection Clostridium difficile and on products targeting gastrointestinal and liver diseases.
Immuron shares were trading unchanged at $0.004 as of around 1.30 pm on Tuesday
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