Voyageur Pharmaceuticals Ltd (TSX-V:VM, OTC:VYYRF) told investors it has formalized a sales and distribution alliance with an internationally recognized pharmaceutical distribution company in Central America.
Describing it as “pivotal,” the company said the landmark agreement marks a significant milestone in its journey, signalling its entry into the global market.
Under the alliance agreement, Voyageur has granted the distributor exclusive rights within its designated territory, emphasizing its pivotal role in obtaining regulatory licensing for Voyageur's suite of five barium contrast products. Due to the sensitivity and competitive nature of the barium contrast market, Voyageur said it would maintain strict confidentiality regarding client information, pricing, and sales volumes.
The company said it anticipates a significant product launch in the first half of 2024, introducing its comprehensive suite of five Health Canada-licensed barium contrast products. It said the product solutions play a vital role in diagnosing diseases, disorders, and abnormalities throughout the digestive system, and are seamlessly integrated with X-ray and computed tomography (CT scan) procedures.
"We are in active discussions with multiple distributors and clients both domestically and internationally in preparation for our imminent product launch,” commented Voyageur CEO Brent Willis.
“Concurrently, we are meticulously advancing the formulation and rigorous testing of our full suite of products, prioritizing unparalleled quality and efficacy.
“The forthcoming revenue from sales will significantly contribute to advancing the Frances Creek barium sulfate project, contingent upon securing financing.”
The Frances Creek project, boasting a Preliminary Economic Assessment (PEA) valuing it at a net present value (NPV) of $344 million, is set to generate $839 million in pre-tax revenue over the next decade.
As one of the few global providers of commercial natural pharmaceutical-grade barium sulfate, Voyageur aims to reduce barium costs significantly by shifting from synthetic man-made barium sulfate imports to the successful production of Frances Creek barium sulfate.