CorMedix Inc. (NYSE MKT: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of cardiac, renal and infectious disease, announced today the first signed Middle East sales/distribution agreement for lead product Neutrolin with distributor Arabian Trade House in the Kingdom of Saudi Arabia.
Saudi Arabia is the largest of the six Gulf Cooperation Council (GCC) countries made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates. Saudi Arabia has approximately 13,000 patients on hemodialysis; with central venous catheter (CVC) usage rates are as high as 40 percent. In Saudi Arabia intensive care units (ICU), there are an estimated 1.6 million patients per year on catheters and an estimated 3,000 oncology patients with catheters.
CorMedix's Neutrolin is a novel formulation of taurolidine, citrate and heparin with1000 u/ml that provides a combination preventative solution, decreases the triple threat of infection, thrombosis, and biofilm to keep catheter's operating safely and efficiently by optimizing catheter blood flow while minimizing infections and biofilm formation.
"We are pleased to make Neutrolin available in Saudi Arabia to help the many patients with catheters in the dialysis setting who need new options for the prevention of infection and thrombosis," said Randy Milby, CEO of CorMedix. "This agreement extends our commercial reach into the Middle East and is creating a new revenue stream for the company."
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