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news.Derma Sciences has reached an agreement in principle with a major Canadian retail pharmacy chain, and expects a contract to be executed by both parties in the near future. The terms call for minimum purchases of $2 million each year for three years, totaling at least $6 million.
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During the term of the agreement, the retailer will have the exclusive rights to distribute Derma Sciences’s Medihoney antimicrobial products at retail throughout Canada. The $2 million per year will be comprised of a mix of Medihoney antimicrobial dressings, private label adhesive strips and traditional wound-care dressings.
Initial orders of the Medihoney line are expected to take place in December 2008, and initial orders for the other products are anticipated to begin in the spring of 2009.
Ed Quilty, CEO of Derma, said: “Entering into an exclusive distribution arrangement with this large retailer further validates the brand and underscores the interest being generated by consumers.”