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Nutriband Inc. Signs Agreement to Sell Majority Stake of Subsidiary Pocono Pharmaceutical for $5M USD to EarthVision Bio
Globenewswire· 2025-12-29 14:00
Core Insights - Nutriband Inc. has signed an agreement to sell a 90% interest in its subsidiary Pocono Pharmaceutical for $5 million to EarthVision Bio, with the transaction expected to close on December 31, 2025 [2][3] Company Overview - EarthVision Bio is developing sustainable products created by Dr. Gordon Moore, founder of Intel, and Dr. Hans Franke, former chairman of Chevron Europe, focusing on eco-friendly alternatives to plastic, molded fiber, wood, and paper products [3] - Nutriband Inc. will retain 10% of the shareholding in EarthVision Bio following the acquisition [2][3] Financial Implications - Proceeds from the sale of Pocono Pharma will be used by Nutriband Inc. to further develop its AVERSA Fentanyl product, which is projected to achieve annual U.S. sales between $80 million and $200 million [4] Product Development - Nutriband's AVERSA™ technology is designed to prevent the abuse, misuse, and accidental exposure of transdermal drugs, particularly opioids, and is protected by a broad intellectual property portfolio with patents granted in multiple countries [5][6]