Mach One has entered into a multi-year, sole-source agreement with PanTheryx, to supply proprietary bio-based ingredients for manufacturing a broad-spectrum pediatric diarrhea product.
Through a wholly owned subsidiary in India, PanTheryx produces and sells branded generic pharmaceuticals and proprietary US-originated products and technologies designed for the Indian healthcare market.
Tim Starzl, CEO of PanTheryx, said: We are excited to team-up with Mach One, to further our mutual commitment to provide global health solutions that create positive, long-term health benefits. Pediatric diarrhea is a serious and widespread condition in India. It is the second most common cause of death for children under the age of five – and causes 20% of the total child mortality in India; accounting for over 1.4 million child deaths per year.
Once full production and distribution system scale-up is in place, Mach One anticipates its revenues would reach $100,000 per month, with the expectation of further growth opportunities in both India and worldwide. The Company expects initial shipments to begin in the fourth quarter of 2009.
Steve Grubner, COO of Mach One, said: This association with PanTheryx further supports our continued commitment to provide wellness solutions that have global impact. In addition, this global supply agreement not only provides Mach One the opportunity to extend our portfolio of bio-tech solutions with positive financial contribution to our balance sheet but also expands our international distribution network.