Nutriband Inc. (NASDAQ: NTRB) announced it has entered into an exclusive distribution agreement with Costa Rica-based Innomedica for AVERSA Fentanyl, upon approval, and all sports tape products manufactured at its Pocono Pharmaceutical/Active Intell subsidiary. Under the agreement, Innomedica will oversee and finance regulatory approvals as the products advance toward launch.
Nutriband’s AVERSA abuse-deterrent transdermal technology is designed to incorporate aversive agents into patches to deter abuse, diversion and misuse of drugs with abuse potential, supported by a broad international patent portfolio. The partnership with Innomedica is a strategic move to introduce this innovative technology to the Costa Rican market, addressing the growing concern over prescription drug abuse.
The exclusive distribution deal underscores Nutriband's commitment to expanding its global footprint. By leveraging Innomedica's local expertise and regulatory knowledge, Nutriband aims to streamline the approval process and ensure a successful market entry. The sports tape products, which are already manufactured, will also benefit from this agreement, providing an additional revenue stream.
According to the press release, the collaboration is expected to accelerate the availability of AVERSA Fentanyl in Costa Rica, pending regulatory approvals. The fentanyl patch is designed to deter abuse through the incorporation of aversive agents, making it a critical tool in combating opioid misuse. The technology's patent portfolio provides a competitive advantage in the transdermal market.
For more information on the agreement, view the full press release here. Nutriband's website is www.nutriband.com.
The latest news and updates relating to NTRB are available in the company’s newsroom at https://ibn.fm/NTRB.
