TempraMed Technologies Up 25% as it Signs Agreement for Exclusive Distribution Partnership in Brazil With Mobil Saude
TempraMed Technologies (VIVI.CN) shares rose 25% on Thursday after it signed an agreement with Mobil Saude Comercial Ltda regarding the exclusive distribution of TempraMed products in Brazil.Under the agreement, Mobil Saude is expected to distribute TempraMed's portfolio initially including VIVI Cap, with the potential addition of VIVI Med, VIVI Epi, and VIVI Cap Smart as the partnership develops. The company said the arrangement contemplates a three-year exclusive distribution framework with minimum annual purchase commitments.Exclusivity would become effective following placement and full prepayment of the initial order, it said."Brazil is one of the world's largest and most strategically important markets for diabetes care and injectable therapies," said Chief Executive Ron Nagar. "Partnering with Mobil Saude has the potential to significantly expand access to our products while strengthening our commercial presence in the region."Shares of the company were last seen up $0.14 to $0.69 on the Canadian Securities Exchange.Price: $0.69, Change: $+0.14, Percent Change: +25.45%
