Global arrangement excludes certain countries and products but allows the re-branding of products if sales goals are met.
IVAX Diagnostics entered a two-year agreement with Biomerica for the global distribution of the latter’s products, with certain country and product exclusions. Products covered under the deal include 33 ELISA test kits in the areas of diabetes, gastrointestinal disease, and bone/mineral disorders as well as more than 26 point-of-care tests.
IVAX’ subsidiaries Diamedix and Delta Biologicals will supply the products, which will be marketed under the Biomerica name. If certain initial sales levels are achieved, the products will be sold under the Diamedix brand in the U.S. and the Delta Biologicals brand internationally.
“This agreement with Biomerica is expected to not only broaden and enhance our ELISA suite of products by adding GI, diabetes, and bone/mineral testing products to our line of autoimmune test kits but also expand our entry into the rapid point-of-care testing market, a global market that is estimated to be $10.3 billion,” comments Charles Struby, CEO and president of IVAX.
Zackary Irani, CEO of Biomerica, adds, “IVAX Diagnostics’ customer base of nearly 600 installed Mago® instruments [an analyzer for ELISA procedures] offers both our companies a significant opportunity to increase sales. As our tests complement those already sold by Diamedix and Delta Biologicals, we believe their experienced sales forces and ability to reach global markets will produce positive results.”