Mr. Serge Verreault reports
LEADING CANADIAN HEALTHCARE SERVICES PROVIDER SELECTS CRESCITA AS EXCLUSIVE MANUFACTURING PARTNER UNDER 5-YEAR AGREEMENT
Crescita Therapeutics Inc. has signed an exclusive manufacturing and supply agreement with a leading Canadian diversified health care services provider to supply various sanitary products, including hand sanitizer, hand soap and hand lotions, for onward distribution to a network of publicly financed health care organizations, represented by a buying group.
With an initial term of five years and a three-year renewal option exercisable by the buying group, the agreement does not provide for minimum order quantities. However, based on the forecasted volumes, annual revenue under the agreement may reach up to $6-million by the end of the initial term. Crescita's manufacturing revenue will be contingent on the client's ability to convert buying group members from their existing solutions to its new sanitizer dispensing solution. As its exclusive manufacturing partner, Crescita will support the client in developing the public sector health care market for the products through competitive bidding processes with other buying groups in Canada.
"We are very pleased to have been selected by the client, a prominent player in the Canadian pharmaceutical industry, as their exclusive supplier for this multiyear, multijurisdiction project. We believe that the strong partnership we have forged will pave the way for future collaborations," commented Serge Verreault, president and chief executive officer of Crescita.
About Crescita Therapeutics Inc.
Crescita is a growth-oriented, innovation-driven Canadian commercial dermatology company with in-house R&D (research and development) and manufacturing capabilities.
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