Easton Pharmaceuticals Inc (OTCMKTS:EAPH) recently declared update to its already signed agreement with Bayer Consumer Care of Switzerland, the subsidiary company of Bayer AG (ADR) (OTCMKTS:BAYRY). Also, the diversified specialty pharmaceutical company recently announced that it is moving towards a letter of intent after negotiating with 2 AMPR and will be investing in one of the companies who has already received the Canadian Marijuana cultivators/ growers license from the Health Canada Compliance.
Easton/BMW Sign Sub-Distribution Agreement With Bayer’s Subsidiary
Easton Pharmaceuticals and its partner BMW Medica SA de CV together signed a sub-distribution agreement with Bayer’s subsidiary company recently. According to the agreement, the subsidiary company of Bayer will distribute in Mexico region the licensed product of Easton/BMW known as VS-Sense.
Easton’s representative confirmed that the agreement has closed and the company has received an initial cash payment from the German company as per the terms mentioned in the agreement. Easton/BMW will receive an additional payment after the product launch and the multinational pharmaceutical and life sciences company will also pay royalties on each product sold for the coming five years as executed in the agreement. The new product, VS-Sense is expected to be sold under a new brand name of Bayer and its launch and marketing planning is underway with the sole responsibility resting on Bayer.
The American company will be providing details about the marketing and product launch to its shareholders once Bayer notifies everything officially to Easton.
Easton Forwarding Letter Of Intent To An AMPR Applicant
Easton has been negotiating with two AMPR applicants and discussions with one of them have led to positive developments. That is why the company is planning to send a letter of intent to that AMPR applicant having growers license for marijuana cultivation with the hope of possible investment. Easton is looking for an association with an AMPR applicant who meets the criteria for recreational/medical marijuana launch in Canada.
And the forwarding of this new letter of intent is a result of ongoing pursuance by Easton to acquire businesses and assets in different pharmaceutical sectors as well as in other industries with growth potential resulting in an increase in shareholder value.