Petvivo signs distribution agreement with MWI, shares soar

PetVivo Holdings

24/06/2022 19:30

** Shares of Petvivo Holdings  PETV.O  surge 17.3% to a
three-month high of $2.78 
    ** The veterinary biotech co said in a regulatory filing it
entered into a distribution services agreement with
Amerisourcebergen  ABC.N  unit MWI Veterinary Supply Co last
Friday
    ** Under the agreement, MWI for two years will become the
exclusive distribution and supply partner for PETV's lead
product, Spryng, and other offerings within the United States 
    ** If certain taregts are met, PETV can extend the agreement
with MWI on a non-exclusive basis after the initial two-year
period 
    ** PETV will sell Spyrn, a medical device for treatment of
joint pains in animals, to MWI at the lowest price under the
agreement or at the lowest price paid to a comparable
distributor 
    ** Including session moves, stock down ~29% YTD

 (Reporting by Raechel Thankam Job)
 ((RaechelThankam.Job@thomsonreuters.com;))