Drugs firm M Pharmaceutical Inc (CSNX:MQ, OTCMKTS:MPHMF) provided an update on corporate activity and product development, including that its deal to buy Cincinnati-based 40 J’s announced last year is expected to close by the middle of this month (February).
With the closure of that acquisition, the firm gains seven different products, which are FDA cleared, and will provide revenue streams.
Some are currently distributed in China through an agreement with a third party, with current revenues to 40 Js of around US$800,000 per year.
On its Orlistat (C-103) slimming product program, the firm said the PIND (Pre-Investigational New Drug Application) package has been completed and delivered to the FDA investigator, who is scheduled to respond by March 6, 2017.
Then the group should have an approved path including particulate partners and study requirements, it added.
The firm also acquired the global marketing rights to ToConceive in November last year.
With this product, a strategic brief and brand model is scheduled for Wednbesday (February 14) this year and online sales should launch in late April or May, 2017 with targeted sales of 2,000 units per month initially, the group said.
On the group’s female dysfunction group,the original provisional patent application was submitted to the USPTO in April, 2015 and the firm anticipates hearing from the USPTO by May, 2017.
Story by ProactiveInvestors