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BRIEF-Derma Sciences buys Medihoney brand from long-term partner
January 11, 2017 / 9:24 PM / 10 months ago

BRIEF-Derma Sciences buys Medihoney brand from long-term partner

Jan 11 (Reuters) - Derma Sciences Inc :

* Derma sciences buys Medihoney brand from long-term partner

* Derma sciences inc - consideration is an upfront payment of $13.25 million in cash

* Derma sciences inc -deal includes an additional $5.0 million potentially payable in form of an earn-out upon achievement of future annual sales milestones

* Derma sciences inc- under terms of deal, co has a new 10-year medical honey supply agreement with comvita

* Derma sciences inc - purchase eliminates derma sciences’ obligation of royalty payments to comvita on sale of medihoney products Source text for Eikon: Further company coverage:

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