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Merus Labs International announced it has received regulatory approval to sell Sintrom in Spain.
Merus Labs International (TSX:MSL, NASDAQ:MSLI) announced it has received regulatory approval to sell Sintrom in Spain.
As quoted in the press release:
Merus has now received approvals that represent roughly 80% of our overall targeted tech transfer savings. This benefit is realized once products sourced from prior suppliers are sold. As previously communicated, the Company expects an estimated $4 million of cost savings from Sintrom® to be realized in fiscal 2017.
Today’s approval for the Spanish market for the new Sintrom® active pharmaceutical ingredient (API) supplier represents the second of two steps in the tech transfer process. This submission was very complex and consisted of over 60 separate variations. This milestone in Spain, a market representing approximately 50% of Sintrom® sales, represents almost $2 million of the estimated annualized tech transfer savings of $8 million.
Click here to read the full press release.
Source: www.newswire.ca
