Axxess Pharma, a specialty pharmaceutical company that focuses on the marketing of dermatological, therapeutic nutritionals, pain management and diagnostic products in Canada, has signed a letter of intent (LOI) to acquire a Canada-based pharmaceutical manufacturer.
Axxess Pharma's facility is about 22,000sqft and manufactures pharmaceuticals, neutroceuticals and dermotologicals. The company is expected to continue the distribution of its own line of pharmaceuticals from its Markham location.
Gerald Sequeira, president/CEO of Axxess Pharma, said: "We anticipate completing the acquisition of the pharmaceutical manufacturer in the very near future. The acquisition will add over $2m in annual sales to our financials, provide us with a large manufacturing facility and new product lines.
"This is one more sign that we are focused on continuing to expand our operations across Canada and gain market share. We will have lots of information for our shareholders in the upcoming weeks. This information will define where we are and what is new and happening with Axxess Pharma."