Tetra Bio-Pharma announced the signing of a definitive agreement with Azevedos Indústria Farmacêutica for the marketing and distribution of CAUMZTM (PPP011) in Portugal.
“Portugal has taken an innovative approach in its opioid battle, and Azevedos, the oldest pharmaceutical brand name in Portugal, is one of the leaders in the fight against opioid abuse. We are thrilled to partner with this forward thinking company and share in its commitment to bringing effective alternatives to opioids,” said Guy Chamberland, Ph.D., CEO and Chief Regulatory Officer of Tetra Bio-Pharma. “Azevedos is a global company with distribution capabilities throughout Europe, a state of the art manufacturing facility in Portugal and facilities in Mozambique and Tunisia. With the potential to manufacture a number of our prescription drug products for commercial launch in the European market, we are excited and look forward to further building this relationship with Azevedos.”
Under the terms of the agreement, Tetra will receive milestone payments and profit sharing on all sales of CAUMZTM in Portugal. In return, Azevedos will be responsible for registering the product, manufacturing, as well as all marketing and distribution in Portugal.