SNOA - Sonoma shares rise after EMC Pharma tie up

Sonoma Pharmaceuticals (SNOA) has entered into an agreement with EMC Pharma for the exclusive right to manage, market and distribute the company's HOCl-based prescription dermatology and eye care products in the U.S. for an initial term of five years, subject to extension.Shares of the company were trading up more than 20% after market. Sonoma said that the deal will help cut significant overhead for the firm, and added that the partnership will reduce its sales force dedicated to direct sales of prescription dermatology products in the United States.As part of the partnership agreement, EMC will acquire all of the existing inventory and pay a royalty and transfer prices over the initial five-year term.

For further details see:

Sonoma shares rise after EMC Pharma tie up