Australia's Osteopore surges on exclusive distribution agreement

Osteopore

16/07/2024 04:10

** Shares of medical technology firm Osteopore  OSX.AX  rise
as much as 35.7% to A$0.076
    ** Stock hits highest level, and posts its biggest intraday
pct gain since June 6
    ** Co says it signed an exclusive distribution agreement
with a unit of Singapore-based Zimmer Biomet  ZBH.N 
    ** Zimmer Biomet will distribute co's craniofacial products
in Europe, the Middle East, and Africa (EMEA), and Asia Pacific
(APAC) including Australia and New Zealand
    ** Co did not disclose financial details of the deal
    ** Adds deal includes 24 countries in the initial stages,
more than co's current market reach of 10 countries
    ** About 26 mln shares change hands, compared with the
30-day average volume of 2.4 mln
    ** Stock has fallen more than 50% this year, as of last
close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))