Q BioMed Inc. (OTCQB:QBIO) said it has received a confirmed $500,000 order for Strontium Chloride USP injections in China.
The company said it recently inked the supply contract with isoSolutions Marketing and Management, its Canadian distribution partner, and Chinese radiopharmaceutical company Chengdu Syncor Pharmaceutical Co. Ltd.
Q BioMed noted that the agreement is the first of what is expected to be a high-growth named patient opportunity to supply Strontium89 in the Chinese market.
READ: Q BioMed outlines strategic direction and goals for 2022
Chengdu Syncor is an A-list radiopharmaceuticals supplier devoted to providing high-quality radionuclide products to its customers throughout China.
Q BioMed said the Chinese market is currently demanding 12,000 doses a year (growing 10% a year) from two local government-run manufacturers, as the order represents a small fraction of that opportunity.
New York-based QBioMed expects to begin shipping doses in April once all logistics are in place and will continue through 2023.
Approved by the US Food and Drug Administration (FDA), Strontium89 is a non-opioid radiopharmaceutical indicated for the treatment of painful skeletal metastases caused by cancer and is agnostic of the primary tumor. Common primary tumors that metastasize to the bone include prostate, breast, and lung, as well as others.
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