Viaderma Inc (OTCMKTS:VDRM) reported that the firm has commenced distribution and sales of its highly expected topical antibiotic ointment named Vitastem. The company will work with a new marketing and sales group to put 25 sales agents on the ground selling company’s offerings to networks of Hospitals and also to physicians’ offices. The estimated revenues for 2018 from this measure should record $6.9 million.
Viaderma has a new supplier in the Philippines, whereby Biogenx and ViaDerma have come to a mutual agreement to supply VitaStem in the Philippines. The deal calls for purchase minimum of 42,500 units in the preliminary year, and then 75,000 and 125,000 units in the 2nd and 3rd year, respectively. The firm anticipates to increase production, monthly as interest in the offering continues to surge. Viaderma projects that they could increase production to 75,000 units a month over the imminent few years.
ViaDerma also considers sales in Japan will commence soon with a preliminary demand for around 10,000 units of VitaStem a month. Conservatively the firm is estimating preliminary revenues from Japan of more than $2 million per year for 2018. D. Christopher Otiko, the President of Viaderma, will travel to Japan next month to meet with physicians and distributors who will be distributing Vitastem to their patients.
Its sales, distribution and marketing associate, Biogenx, has been preselling the offering, under the brand VitaStemtm. It now retails for $79 and can be bought online. The firm intends to begin manufacturing the next production run of the offering and now has modernized the manufacturing. The firm has finalized an MOU and will commence production of its Patent Pending Cannabinoids product line.
ViaDerma President expressed that now that they have the manufacturing capabilities they are concentrating on increasing distribution and sales and are witnessing the orders come in from numerous nations.