Firebrick Pharma (ASX:FRE) has announced that it has executed a license and distribution agreement under which the Fijian company Makans will immediately commence promoting and selling Nasodine Nasal Spray (nasodine) in Fiji and the South Pacific.
Firebrick said it expects an initial order from Makans of approximately 1,000 units, which will be the same product and package as currently marketed through retail pharmacies in Singapore.
Under the agreement, Makans will be responsible for all marketing and distribution costs in the territory and local regulatory requirements. Makans will pay Firebrick a manufacturing and handling fee equivalent to 20 per cent of the cost of goods. Makans will pay Firebrick a license fee of $1.80 on each unit of licensed products it sells.
“Fiji and the South Pacific represents a total population of around two million people, which could represent important additional sales for Nasodine,” said Firebrick executive chairman Dr Peter Molloy. We are delighted to have a committed partner like Makans to help us achieve Nasodine’s potential in the region.”
Makans CEO David Huttley added, “Makans is excited to partner with Firebrick Pharma as exclusive distributor for Nasodine across Fiji and the South Pacific region. As Fiji’s largest pharmaceutical wholesaler, Nasodine adds to the Makans portfolio of high quality medicines with proven clinical outcomes and aligns with our mission to deliver quality medicines across the South Pacific.”