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Immune Therapeutics, Inc. Announces Exclusive Agreement for Sale of Lodonal in Kenya Valued at Over $31 Million
Immune Therapeutics, Inc. Announces Exclusive Agreement for Sale of Lodonal in Kenya Valued at Over $31 Million.
About this update from Biostax Corp.
[{"type":"text","content":"\n\n ORLANDO, Fla., Sept. 06, 2017 (GLOBE NEWSWIRE) -- Immune Therapeutics, Inc. (OTCQB:IMUN), a specialty pharmaceutical company focused on developing and commercializing Lodonal™, its patented, affordable, non-toxic therapy for the management of cancer, HIV, autoimmune diseases and other inflammatory conditions, today announced that it has entered into an exclusive agreement with Kenya-based Omaera Pharmaceuticals, Ltd. for the sale and distribution of Lodonal™, valued at a minimum of $31 million in revenues over three years. \n\n \n \n \n \n \n \n \n \n \n \n \n How Lodonal Treats HIV/AIDS\n \n \n \n \n \n \n \n \n\n A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/d02d7135-cf47-471f-9fa0-17fa3e9728a7. Under the terms of the agreement: Omaera will supply Lodonal to patients exclusively in Kenya, where 5.9% of the country’s 47 million population live with HIV/AIDS.Immune Therapeutics will sell Lodonal to Omaera at a rate of $0.65 per pill, or $19.50 per cartonIt requires a minimum purchase commitment of over one million pills in the first six months; over 3.6 million pills in the second half of the first year; and 14.4 million and 28.8 million in the second and third years, respectively.Omaera Territory includes six countries:  Republic of Kenya, Republic of Uganda  United Republic of Tanzania, Republic of Burundi and Republic of Rwanda.  Making up the East Africa Community.Based on numbers from Avert there are 4,670,000 living with HIV in the regionOmaera was launched in 1993 as a locally owned wholesaling operation that has grown into one of the most recognized medical supply and distribution companies in East Africa.  Dr. J. Njoroge, Managing Director of Omaera Pharmaceuticals, Ltd., said “Following the finalization of the distribution agreement with Immune Therapeutics, we have made the commercial commitment to launch Lodonal into Kenya and start exploring its medical potential for those suffering from HIV/AIDS, cancer and other ailments that could benefit from Lodonal.” Immune Therapeutics to Achieve Profitability by Year-End“We are excited to be partnering with Omaera Pharmaceuticals for the initial sale and distribution of Lodonal throughout Kenya,” said Noreen Griffin, Chairman and CEO of Imm...