Biomerica Announces Point of Care Product Distribution Agreement with a Multinational Pharmaceutical Company
Irvine, California -- August 16, 2017 -- Biomerica, Inc. (Nasdaq: BMRA) announced today a distribution agreement to supply one of its point of care products to a multinational pharmaceutical company for distribution in Mexico.
This multinational pharmaceutical company generates over $1.4 billion in annual revenues and has over 11,000 employees worldwide. The specific terms of the distribution agreement were not disclosed and will remain confidential. This point of care product has already received approval from COFEPRIS (the Comision Federal para la Proteccion contra Riesgos Sanitarios), which is Mexico's equivalent of the U.S. Food & Drug Administration (FDA), thereby clearing it for immediate sale in Mexico.
"I am very pleased to announce this sales contract with a leading global pharmaceutical corporation," said Mr. Zackary Irani, CEO of Biomerica. "This is a tremendous validation of our product by a large healthcare company and we hope to announce more distribution agreements with them or other partners down the road. Both companies are excited about the sales potential for this point of care product in the Mexican market."
About Biomerica (Nasdaq: BMRA) Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company's products are designed to enhance the health and well being of people, while reducing total healthcare costs. Biomerica primarily focuses is on products for Diabetes, Gastrointestinal Disease and esoteric testing.
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