Targeted Medical Pharma (OTCQB: TRGM), today announced the completion of an agreement between Analytical Testing Laboratories (ATL), a Lebanon based company that specializes in drug testing services and inborn errors of metabolism, for the exclusive distribution of the company's amino acid based products to physicians and pharmacies throughout the Middle East.
The Agreement provides ATL with a limited exclusive license for the marketing and sales of certain products in twenty countries in the region. The Agreement includes a licensing fee, an annual minimum product purchase order and certain performance benchmarks which include meeting product registration and regulatory approvals as well as sales volume in a given country.
"We are excited to introduce our products to the Middle East, and look forward to working with ATL to rapidly scale the growth of their distribution in the region," said William Shell, M.D. Chief Executive Officer and Chief Science Officer at Targeted Medical Pharma. "Expanding international operations is a pivotal part of our growth strategy and will provide additional capital for increased domestic sales."
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