Viaderma Inc (OTCMKTS:VDRM)
Shares of Viaderma Inc (OTCMKTS:VDRM) were up by 30.77’% days after the specialty pharmaceutical company announced the appointment of a sales group for its topical antibiotic. Galaxy Solutions Inc. is to sell the product under the brand name Vitastem, first targeting customers in select markets of Asia Pacific.
Monday’s rally helped push the stock close to a key resistance level of $0.03 a share. The stock is currently trading at the higher end of a tight $0.02-$0.03 a share having been on an impressive run since the start of the month. A rally above the $0.03 could push the stock to highs of $0.05 mark which is another key resistance level.
Viaderma Inc. (OTCMKTS:VDRM) is a specialty pharmaceutical company focused on bringing to market new products through research and development. The company licenses and sells products developed using stem-cell therapy for the treatment of various infectious diseases. TetraStem is the company’s candidate product in development for the treatment of genital herpes. It is also working on antifungal products for onychomycosis.
Galaxy Solutions Agreement
Under the terms of the agreement, Galaxy Solutions will assume sales and marketing responsibilities for the Vitastem brands in addition to other brands that will be developed for other market segments. Galaxy Solutions will also sell directly to other large customers and distributors in addition to acting as the primary provider of service and support in markets of focus.
“With Galaxy Solutions as our sales representative, we will immediately have access to the professional segment of our target markets. Our goal is to continuously increase our revenues and improve our customers’ experience in every aspect,” said Mr. Otiko.
Viaderma Inc (OTCMKTS:VDRM) has already begun product testing of the topical antibiotic in anticipation of the first orders in the next 30-45 days. The company expects sales of about 10,000 units over the next 4-6 months which should double to 20,000 units early next year.
Viaderma Inc (OTCMKTS:VDRM) Chief Executive officer, Chris Otiko, expects Galaxy Solutions to help expand the company sales network in addition to providing personnel support. The executive also expects the partnership to allow the company introduce other products to several markets across Japan as well as the larger Asia Pacific.
Buoyed by the agreement with Galaxy Solutions, the Chief executive officer is estimating revenues of about $12 million with the sale of Vitastem in Japan.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.