08-03-2011, 08:42 PM
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ItalkCash User
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Join Date: Jul 2011
Posts: 161
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VNTH - Vantage Health
Vantage Health South African Subsidiary Negotiates Supply Agreement With Major South African Retail Group
CAPE TOWN, South Africa, Aug. 02, 2011 /PRNewswire via COMTEX/ -- Vantage Health (OTC:BB - ticker symbol VNTH), ("Vantage"), announced today that its 51% owned South African subsidiary, Moxisign (PTY) Ltd., ("Moxisign"), is finalizing a pricing structure for a Supply Agreement with the generic pharmaceutical division of a major Johannesburg Stock Exchange listed retail group. The umbrella Supply Agreement, ("contract") with the various appendices detailing each pharmaceutical product to be supplied is expected to be fully executed before the end of September, 2011. Because of the time required to have each of Moxisign's drug dossiers registered with South Africa's Medicine Control Council ("MCC") before supply can begin, the contract is expected to run from January 2013 for a renewable five year term, and will cover various generic pharmaceutical products. As such, and subject to the final Supply Agreement being executed by all relevant parties, revenues from this contract will only be generated once MCC approves each drug dossier. The contract provides for additional generic drugs to be added by Moxisign for the duration of the contract term.
Dr. Lisa Ramakrishnan, President and CEO of Vantage Health, noted: "It has always been our intention to have our Moxisign subsidiary focused on the South African private sector as an adjunct to its public sector efforts. In terms of volume potential, we had, as one of our main priorities, the goal of partnering with an established and significant South African retail entity."
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