Sonoma Pharma: Surges on deal to market skin, eye care products in U.S.

Sonoma Pharmaceuticals

01/04/2021 11:22

** Shares of the drug developer  SNOA.O  surge 44.4% to
$10.73 in premarket trade, on track to hit over 2-year high if
gains hold
    ** Speciality pharma company EMC Pharma LLC enters agreement
with SNOA for exclusive rights to market and distribute SNOA’s
prescription dermatology and eye care products in the United
States  urn:newsml:reuters.com:*:nBw56N8qya
    ** EMC to acquire all of the existing inventory and pay a
royalty and transfer prices over the initial five-year agreement
term, says SNOA
    ** SNOA reduced its sales force related to direct sales of
its prescription dermatology products in the United States;
partnership expected to reduce significant overhead costs- Co
    ** EMC Pharma will also have non-exclusive rights to market
and distribute certain of SNOA's wound care products into
government channels
    ** SNOA is up 2.3% YTD as of its last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))