Nika Pharmaceuticals, Inc. (NIKA) Signed a Distribution Agreement for Nigeria
Nika Pharmaceuticals (OTCMKTS: NIKA) has signed a distribution agreement for Nigeria with I.Conntact-Connect on June 11, 2024.
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Rhea-AI Summary
Nika Pharmaceuticals (OTCMKTS: NIKA) has signed a distribution agreement for Nigeria with I.Conntact-Connect on June 11, 2024. This partnership targets a market of 229 million people with a 2.1% HIV prevalence rate. Under the agreement, NIKA will receive €1,980 per ITV-1 set, with two sets required per treatment, potentially generating €7.9 billion in revenue.
The deal aims to address Nigeria's HIV epidemic, where 190,950 new HIV/AIDS infections occur annually, including 41,000 cases among children with access to therapies. CEO Dimitar Savov announced plans to open a satellite office in Nigeria to serve as a hub for West Africa, emphasizing the country's strategic importance to NIKA.
Positive
- Signed distribution agreement for Nigeria, a market of 229 million people
- Potential revenue of €7.9 billion from ITV-1 treatment sales
- Addressing a significant HIV epidemic with 2.1% national prevalence
- Plans to open a satellite office in Nigeria as a West African hub
Negative
- None.
Details
News Market Reaction – NIKA
The recorded move for NIKA in the trading session of this news was +16.73%.
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HENDERSON, Nev., July 18, 2024 (GLOBE NEWSWIRE) -- Nika Pharmaceuticals, Inc. (OTCMKTS: NIKA) announces the signing of a distribution agreement for the Republic of Nigeria.
The extensive negotiations with I.Conntact-Connect Limited finalized on June 11, 2024 and will allow NIKA to have a strong partner in a key market of 229 million people where recent estimates report a
NIKA’s CEO Dimitar Savov stated: “Since Nigeria is important for NIKA, in addition to the distribution agreement, we are preparing to open a satellite office there that will serve as a hub for the entire West Africa region.”
About Nika Pharmaceuticals, Inc.
Nika Pharmaceuticals, Inc. (NIKA) is a pharmaceutical company, specializing in the treatment of HIV/AIDS, Hepatitis B and C, Rheumatoid Arthritis, Cancer, Diabetes, and all diseases, for which strengthened cell immunity is of vital importance. NIKA's intellectual property includes six drugs in injection form – two of which have successfully undergone clinical trials with good treatment results – four drugs in tablet form, and eleven dietary supplements. NIKA’s goal is to not only achieve corporate profits, but to provide better and easier access to life-saving medicinal drugs and useful dietary supplements. Find more on www.nikapharmaceuticals.com.
Forward-looking Statement:
This press release contains forward-looking statements. Certain statements, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives, and expected operating results, and the assumptions upon which those statements are based, are “forward-looking statements.” These forward-looking statements generally are identified by the words “believes,” “expects,” “anticipates,” “intends,” “strategy,” “plan,” “may,” “will,” “would,” “will likely result,” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain.
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1 https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(23)00275-4/fulltext
2 https://www.unicef.org/nigeria/health-hiv
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