Nutriband Inc. (NASDAQ: NTRB) has entered into an agreement to sell a 90% ownership interest in its subsidiary Pocono Pharmaceutical to EarthVision Bio for $5 million. The transaction allows Nutriband to retain a 10% stake in the subsidiary while securing capital to advance its core pharmaceutical development pipeline.
The company stated that proceeds from the sale will be allocated to support the continued development of AVERSA Fentanyl, an abuse-deterrent transdermal opioid patch. Nutriband believes this product has the potential to become the world's first abuse-deterrent fentanyl patch. The company's website, www.nutriband.com, provides information about its transdermal pharmaceutical portfolio.
According to the announcement, Nutriband estimates that AVERSA Fentanyl could generate annual U.S. sales between $80 million and $200 million. The AVERSA technology is designed to be incorporated into transdermal patches to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential. This strategic divestiture signals a sharpened focus on bringing this specialized product to market.
The full details of the transaction are available in the company's press release. Investors seeking the latest updates on Nutriband can find information in the company's newsroom at https://ibn.fm/NTRB.
For business and technology leaders, this move highlights a strategic pivot within the pharmaceutical sector, where companies are streamlining operations to fund high-potential, innovative products addressing critical public health challenges like the opioid crisis. The development of a first-in-class abuse-deterrent fentanyl patch represents a significant technological and commercial endeavor with implications for patient safety, regulatory standards, and market competition in the pain management field.
