Oasmia Pharma Signs New Exclusive Marketing And Distribution Deal; Stock Up

(RTTNews) - Oasmia Pharmaceutical AB's (OASM) shares were gaining around 2 percent in Stockholm trading after the company said it has entered into a new exclusive marketing and distributions agreement with Hetero Group with the goal of driving revenue in Russia and other CIS markets.

Under the agreement, Hetero, a pharmaceutical company, will be responsible for the marketing and distribution of Paclical in Russia and several other markets spanning CIS markets, including Ukraine and Kazakhstan.

According to the firm, the relationship is a significant one as Hetero possesses a large distribution and sales operation in the region and will be investing its own resources into the marketing of Paclical and future Oasmia products Doxophos and Docecal, for which they have an option to distribute.

The terms in the agreement are similar to the previous agreement for the region.

Oasmia and Hetero Group have also signed a letter of intent regarding India and South America, which will be negotiated separately.

In Stockholm, Oasmia shares were trading at 3.52 Swedish kronor, up 2.33 percent.