LOS ANGELES--(BUSINESS WIRE)--Targeted Medical Pharma (OTCQB: TRGM), today announced the completion of an exclusive product licensing agreement with Healthy Focus Limited, a Hong Kong based company that specializes in distributing healthcare products throughout China.
$TRGM finalizes exclusive 3 year product licensing agreement for distribution of pain products to #China #theramine
The Agreement grants Healthy Focus an exclusive three-year renewable license for the marketing and sale of Theramine®, Percura™ and Trepadone® in Hong Kong and China. Under the terms of the Agreement, Healthy Focus is responsible for registering all products in China, an initial licensing fee, as well as maintaining annual minimum purchase orders of $500,000 for the first two years, and $1 million in the third year.
"We are excited to partner with Healthy Focus Limited to introduce our products to the Chinese Market," said Kim Giffoni, Chief Executive Officer at Targeted Medical Pharma. "The execution of this agreement represents a significant expansion of international sales of our proprietary line of health products, and positions us for sustainable growth over the next three years."
Connect with us on Twitter and Facebook.
About Targeted Medical Pharma, Inc.
Targeted Medical Pharma, Inc. is a Los Angeles-based biotechnology company that develops medical foods for the treatment of chronic disease, including pain syndromes, peripheral neuropathy, hypertension, obesity, sleep and cognitive disorders. The company also develops a line of dietary supplements designed to support health and wellness. The company manufactures 10 proprietary medical foods, and the dietary supplement for sinus and immune support, Clearwayz. The products are sold directly to physicians, pharmacies, patients and hospitals in the United States and abroad.
Forward Looking Statement
This press release may contain forward-looking statements related to Targeted Medical Pharma's business strategy, outlook, objectives, plans, intentions or goals. Targeted Medical Pharma expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.