Premier Biomedical Inc (OTCMKTS:BIEI) was a notable mover during Tuesday’s trading session. The stock surged by close to 14% on the back of high volumes, which were 0.8 times the daily average. The stock has been in a downtrend and seems to have formed a strong bottom near levels of $0.0023. The stock has witnessed strong buying interest over the last week. The index for relative strength has given a buy signal, which is a huge positive. The stock currently trades above its 50 day moving average. Traders see the stock heading to levels of $0.0395 in the near term
In a recent public statement, Premier Biomedical Inc (OTCMKTS:BIEI) announced that it had agreed to sign a non-binding Letter of Intent to initiate discussions with Auramedi Farmacêutica regarding what would be a JV.
As per the reports, under this joint venture agreement, both of them will focus on of developing, distributing and selling Premier’s treatment technologies in South American market. The formation of this joint venture deal is anticipated to affect the approval, sales, manufacture and distribution of proprietary treatments of Premier.
Insights of The Matter
Not long ago, a third party research firm had predicted that the sale of Premier’s technologies, drugs and other products would surpass $400 million milestones by the end of 2020.
The senior management team of the company is delighted to announce this update and hopes that this will mark a new beginning of Premier Biomedical’s success story in the Brazilian market in the coming months. According to William A. Hartman, CEO & President, Premier Biomedical, it’s a privilege to connect with as dedicated and innovative pharmaceutical firm as Auramedi Farmacêutica to embark on a new journey in Brazil.
Premier Biomedical believes that this joint venture deal will not only prove to be beneficial for both the companies, but for all the patients in Brazil and other South American states who are suffering from incurable diseases. There are many such patients in South America who die because of lack of medical facilities and good quality treatments. With Premier Biomedical entering in Brazil, no patient will die unnecessarily anymore.
Reports claim that this joint venture will make available all the drugs, treatments and technologies of Premier, including those that are under developments at present. The company looks forward to launching many more world-class treatments and drugs in the coming months to serve its customers in an effective manner. Details of all of them will be made public at a later date.