TORONTO, ON - (NewMediaWire) - August 26, 2015 - Easton Pharmaceuticals Inc. (OTC PINK: EAPH) announces it has closed on its first wholesale order for Skin Renou HA with BMV Medica for Mexico and other parts of Latin America.
The first order is for a minimum $100,000 worth of Easton's Skin Renou HA which will be distributed to various other distributors including certain clinics. The order is expected to be recurring on a regular basis and to grow as time goes by. Skin Renou will be shipped to BMV following the granting of a Mexican Import Permit, from COFEPRIS, the Mexican federal regulatory agency, which is expected within two months, since the ingredients classify Skin Renou as a cosmetic. Subsequently product shall be shipped with payment forwarded to Easton. Ms. Mendoza Vazquez, President of BMV Medica stated: "We have researched the market for Skin Renou, and believe the formula especially the hyaluronic acid which is a natural ingredient in younger individuals, and which is depleted as we age, to be an especially attractive product for our small but focused team of four medical sales reps visiting plastic surgeons and dermatologists in Mexico. We have performed a small focus group investigation of Skin Renou, and are very excited at the sales opportunities here in Mexico." Ms. Mendoza further added: "We will initially launch here in Mexico, then expand to the other regional markets with local distributors in Women's Health."
BMV Medica and Easton Pharmaceuticals had previously entered into other partnership agreements including a 50/50 revenue sharing to distribute its patented Women's diagnostic product EvaPro, secured from Israel-based CommonSense Inc. In addition, Easton and BMV maintain a 50/50 net profit sharing on all sales of a line of generic cancer drugs beginning with "Paclitaxel" and "Docetaxel" from St. Catharines, Ontario-based Biolyse Pharma Corporation where the regulatory filing process has commenced and Easton has forwarded funds directly to Ackerman Pharma who is overseeing the submission. Biolyse's "Paclitaxel" is already approved in Canada and several other countries world-wide, and "Docetaxel" has been filed for approval with Health Canada.
Biolyse Pharma is currently selling "paclitaxel" in Canada and other countries around the world and currently has a majority of the Canadian market. Biolyse has been credited with substantially bringing down the costs for Paclitaxel in Canada from $30,000 a few years ago. Both "Paclitaxel" and "Docetaxel" are generic drugs and are amongst the most commonly prescribed for several of the most common cancers including breast, lung and ovarian cancers. In addition "Docetaxel" is extremely difficult to manufacture with only a limited number of companies worldwide possessing the knowhow and facilities to manufacture these and other cancer drugs. As previously stated, the securing of the distribution agreement by BMV for these drugs is another major achievement and BMV/Easton have now secured a full line of diagnostics, cancer drugs and other medical treatments in the women's health area.
BMV and Easton estimate being able to garner a 20% share of the Mexican and other Latin American markets for its suite of cancer drugs which could represent tens of millions of dollars in revenues, as overall pharmaceutical sales in Latin America are growing at five times the rate as compared to Canada and the US (12-15 % vs 2-3%).The Cancer drugs industry is considered a high value business segment to be part of as cancer drugs are expected to surpass cardiovascular drugs as the biggest selling drugs in the world. Every major government body around the world has indicated that cancer will continue to impact more and more people and lives around the world especially in countries possessing an aging population.
In addition, Easton remains committed to its own early stage Cancer drug "Xilive" which it purchased rights for in late 2013. The Company is near completing a deal with the majority owner of "Xilive" where Easton will acquire majority control in exchange for a percentage of future royalties and shares of Easton's common stock.
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Easton expects to shortly announce material updates to both its Canadian and California Medical Marijuana initiatives. Sales of its OTC products through Nutrashop Global were put on hold during the last quarter to sort out differences between the two company's and to restructure its distribution agreement.
About Easton Pharmaceuticals
Easton Pharmaceuticals is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries such as medical marijuana. The Company previously developed and owned an FDA approved wound-healing drug and currently owns topically delivered drugs to treat cancer and other conditions that are all in various stages of development and approval. Easton has entered into a 50 / 50 revenue sharing agreement towards being the exclusive distributor in Mexico and Latin America for patented women's diagnostic products and two generic cancer products. Easton has completed an acquisition that grants 40% ownership interest in Medicated Markets International LLC; a company holding Medical Marijuana growing rights in California on 20 acres (3 acre growing area). Easton has also made additional investments into AMFIL Technologies, a company who own rights to a product called the groZONE anti-microbial airflow system and hold an exclusive option to purchase up to 49% in a (MMPR) medical marijuana grow-op business post granting of license from Health Canada in Ontario, which has received a letter to build from Health Canada. The company's gel formulation is thought to be an innovative and unique transdermal delivery system that can in the future be adaptable in the delivery of other drugs and Cannabidiol extracts.
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