Axxess Pharma Inc (OTCMKTS:AXXE) a Pharma and nutritional supplements company announced that it finalized a long-term marketing, manufacturing, and distribution deal with 8E6Tong Private Company Ltd. It is a Singapore-registered firm with a facility based in Tongxiang, China. Recently, Axxess also finalized a major promotional deal with ROC Nation.
The terms
As per the deal, Tong will be introducing its own product line of products utilizing Axxess ‘patented formula. The products will be offered online across globe. They will also be available for sale on selected retail outlets. It forecast minimum sales of $525,000 in the first year and $4.3 million in the first five year period of the license. The specialized firm is active in the segment of production, distribution and marketing of health sciences products to enhance the quality of life. Tong’s facility makes use of environmental science and green chemistry.
The expert speaks
The management of Axxess Pharma said that the deal with Tong is a major achievement for the company and validates the significance of the intellectual property. The company expects the revenue to begin in 3Q2015. Axxess operates through its Canadian subsidiary firm headquartered in Toronto. It is dedicated to enhance health and quality of life by developing nutritional supplements, effective medicines and over the counter medications all across the U.S. The objective is to develop innovative products for better health. Also, the focus is on health management using improved nutritional supplements. It keeps on entering into new deals to expand its offerings into the market.
The momentum
In last trading session, the stock price of Axxess Pharma Inc (OTCMKTS:AXXE) surged more than 15% to close the trading session at $0.0850. The gains came at a share volume of 1.62 million compared to average share volume of 1.53 million. The high for the day was $0.09 and the low was $0.07. The market cap stands at 4.22 million.
