Company Update (NYSE MKT:HEB): Hemispherx BioPharma, Inc Extends Its Strategic Alliance With Armada Health Care for Alferon N Injection(R)
Hemispherx BioPharma, Inc (NYSE:HEB), announced that as the Company works toward the re-launch of Alferon N, it has extended its agreement with Armada Health Care, LLC (“Armada”) (www.armadahealthcare.com) for two years (through August 14 2017) for the sales/marketing of Alferon N Injection®, its Food and Drug Administration approved natural interferon, in the U.S. Under this Agreement, the Company will manufacture and supply Alferon N Injection® to physicians and patients through Armada’s national network of specialty pharmacies. Armada has agreed to provide ongoing sales and marketing to support the product’s re-launch. Specialty Distributor, BioRidge Pharma, LLC (“BRP”), has received a two year contract extension and will warehouse, ship, and distribute Alferon N Injection® on an exclusive basis for U.S. sales.
“We have closely followed Hemispherx progress in its major upgrade of the Alferon manufacturing facility and we are pleased that this is now complete and we can continue to work on preparing for the re-launch of Alferon N Injection®. As the only natural interferon approved in the U.S., we think Alferon N Injection® has great potential in our market”, stated Ryan Oligino, Executive Vice President Manufacturer Relations, Armada Health Care.
Wayne Springate, Senior Vice President of Operations for Hemispherx, stated “This extended agreement with Armada is gratifying. As leaders in the specialty pharmaceutical field, Armada is the ideal partner for the marketing and distribution of Alferon N Injection®. Now with our upgrade work complete to include a high volume, state-of- the-art bioreactor for the manufacture of Alferon N Injection®, we hope to be able to supply greater volumes of product to the market than in the past. We are also establishing an in-house team to support Armada and to establish other sales channels for Alferon N Injection®, educate physicians and patients with the expectation to eventually drive sales in a growing and sustainable manner in the U.S., as well as in Europe, Latin America and Asia where we are actively seeking partners.” (Original Source)
Shares of Hemispherx Biopharma closed last Friday at $0.183. HEB has a 1-year high of $0.40 and a 1-year low of $0.17. The stock’s 50-day moving average is $0.19 and its 200-day moving average is $0.23.
Hemispherx Biopharma Inc is a specialty pharmaceutical company. It is engaged in the clinical development of new drug therapies based on natural immune system enhancing technologies for the treatment of viral and immune based chronic disorders.