VANC Pharmaceuticals (TSX: V.NPH, Stock Forum) made another significant step in its efforts to commercialize its product lines when the company announced today that it had signed a supplier Letter of Intent (LOI) with a Western Canadian-based multi-chain pharmacy.
According to the news release, the LOI outlined a deal where the company would become a preferred supplier of generic drugs and over-the-counter products.
Company CEO, Arun Nayyar, commented on the milestone, “This is a major step in our commercialization efforts and we are excited to have formed a partnership with an established pharmacy chain. We are ramping up our sales and marketing efforts as we prepare to take delivery of our first inventory orders in early Q2-2015.”
The company will be releasing further updates on its commercialization plans this quarter.
VANC Pharmaceuticals was in the news recently when the Vancouver-based company announced placing an inventory purchase order for 30 generic molecules back in the middle of January.
Shares edged up 2.33% on the news to $0.22 per share.
Currently there are 44.6m outstanding shares with a market cap of $9.8 million.