Q Biomed buys SR89 generic and vows to lower prices
USA-based Q BioMed (OTCMKTS: QBIO) has bought the worldwide rights to the US Food and Drug Administration-approved drug strontium chloride (SR89) with the promise to keep prices down.
Q BioMed did the deal with fellow US firm Bio-Nucleonics, which it expects to pay $850,000 in cash and an aggregate of 110,000 shares of common stock.
SR89 provides long-lasting relief for patients suffering from bone pain due to metastatic cancer, typically caused by advanced-stage breast, prostate or lung cancer. The drug is preferentially absorbed in bone metastases and has been proven to provide a long-term effect resulting in non-narcotic cancer pain relief and enhanced quality of life.
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