OTTAWA, ONTARIO--(Marketwired - Sept. 20, 2017) - Tetra Bio-Pharma Inc. ("Tetra" or the "Company") (TSX VENTURE:TBP)(OTCQB:TBPMF), today announced that it has signed a letter of intent (LOI) with a major player of the healthcare specialty industry.
This privately-owned partner, which asked to remain unnamed for the time being, has a pan-Canadian distribution network that reaches up to 7000 specialized healthcare professionals. Through their distribution channel, they have access to over 3000 specialized healthcare businesses in Canada and already work with a worldwide network of partners, including the USA.
Tetra and its partner are working together to develop a new line of products, leveraging Tetra's clinical and product development expertise. The first product will be launched in Q1 2018 with subsequent products already in development for the remainder of 2018. Tetra and its partner will be tapping into the overall Over-The-Counter (OTC) topical analgesics market of more than $300 million in sales in Canada, with the US market reaching over $2.9 billion, according to an IMS analysis. Both companies are expecting to grab a share if the specialized OTC topical analgesics market in a short period of time and could see sales generated from this distribution channel reaching $3 million for Canada in the 1st year. Since the initial launch phase will be focused on the Canadian market, further guidance will be provided as Tetra's partner gets ready to launch in the US.
« We're excited to enter this specialized market as there is a significant need for our clinical expertise in product development. This partnership opens a new distribution channel for our pharmaceutical retail division not only in Canada, but also worldwide through their active partners in the US and Europe. Tetra remains committed and is actively developing partnerships to generate a significant revenue stream. This partnership demonstrates our team's focus and dedication in accelerating our commercialization strategy towards selling a specialized line of products in our pharmaceutical retail business, » comments Bernard Fortier, CEO of Tetra Bio-Pharma.
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