ViaDerma Inc. (OTC:VDRM) Stock In Focus After Latest Update
There were many companies that hit the news cycle on Tuesday, and many of those companies are going to be followed closely by investors this morning. A company that could well be worth tracking at this point in time is ViaDerma Inc. (OTC:VDRM) in light of the announcement it made yesterday. The company provided a number of business updates yesterday aimed at current and potential shareholders, partners, healthcare providers, and customers.
The company revealed yesterday that it was in the final stage of completing its stability testing requirements with its third-party testing facility. As per the feedback that it had received from the third-party testing partner last week, ViaDerma was making preparations to get everything finalized by the end of this month. The stability testing requirements were absolutely vital for the company so as to get permission to distribute Vitastem Ultra, its flagship product, in many nations in the Middle East and the Caribbean, as well as India. The distribution of the product in India would be a particularly major development for the company since the country boasts 1.486 billion people and recently surpassed China as the most populous nation.
Additionally, the management team of the company had also been working closely with its contract manufacturer to ramp up production capacities. That company noted that it expected the order volumes to be large and earmarked orders in excess of 250,000 to 300,000 units from each country every year. Dr. Christopher Otiko, who is the founder and Chief Executive Officer of the company, would also travel to Egypt in the fourth fiscal quarter to present the Vitastem Ultra product to government officials in the country.
The company noted that it expected to generate purchase orders to the tune of more than 250,000 units from Egypt alone. Following discussions that the company already had with its sales partners, ViaDerma made plans to initially distribute 300,000 or more units of its product per country per year. Eventually, the company expected to scale up the volume of units that it would deliver to all the nations.
The company also announced that the new product manufacturer had much bigger capacities and was situated in the United States. In the news release, it was noted that the higher capacity was particularly important since it anticipated that the demand for products like Vitastem Ultra was only going to grow at a global level owing to the growing presence of superb bugs in healthcare facilities worldwide. Such infections create a number of health risks for not only the patients but also the hospital staff and the relatives of the patients who may be visiting.
The company asserted that Vitastem Ultra was a proven solution for the problem. The company also revealed that due to a range of updates and the drug application requirements by the United States Food and Drug Administration for minoxidil, the active ingredient in Nupelo, the application had been put on hold.
