Premier Biomedical Inc (OTCMKTS:BIEI), a well-known biotech research company, has decided to sign a Letter of Intent with Brazilian Pharmaceutical firm Auramedi Farmacêutica Ltd to explore Brazilian market. As a result of this JV, Premier will be able to introduce its technologies, medicines and other biotech solutions in the North American market without any hassle.
Insights of The Matter
Premier is considered one of the leading biotech companies in U.S. market, but it has failed to capture North American market yet due to lack of distribution channels. Auramedi Farmacêutica can help the company enhance its distribution, sales and revenue of various products and services. A recent study conducted by a third party firm shows that Premier’s annual sales in North America will surpass a whopping $400 million in next four years. This initiative is a perfect step taken in that direction.
It’s one of those opportunities that can turn Premier’s fortune forever. Company’s senior management team is excited to initiate the JV talks with Auramedi and hopes that it will bring desired results in the future.
According to William A. Hartman, CEO & President, Premier, it’s great to have formed a JV with a company like Auramedi that’s known for its commitment and consistent performance. This deal will prove to be beneficial not only for Auramedi and Premier but also for all the patients from Brazil and other North American states who haven’t been able to access quality medical facilities.
Premier has always worked hard to bring best of the treatments to the patients in the United States, and it will continue to do the same in Brazil as well. As a result of this joint venture deal, Auramedi will gain access to Premier’s old treatments, ongoing developments and future products without any hassle. Both the company will keep all the shareholders informed from time to time about the future initiatives to enhance the sales and product distribution.