Firebrick Pharma (ASX:FRE) has signed a license and distribution agreement with Fiji Islands company Makans, under which Makans will immediately start to promote and sell the Nasodine nasal spray in Fiji and South Pacific, the company said in a Wednesday Australian bourse filing.
Under the deal, Makans will pay the company a manufacturing/handling fee equivalent to 20% of the cost of goods of licensed products supplied by the company and also a fee of AU$1.80 per unit of licensed products sold.
The Company expects an initial order from Makans of approximately 1,000 units of Nasodine, the filing said.
The agreement is for an initial term of one year renewable for successive one-year terms, the filing added.
Company shares were down 4% in recent trade.
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