Axxess Pharma to buy unnamed drugmaker which will add $2 million to its revenues

Canada-based Specialty drug firm Axxess Pharma says it has signed a letter of intent to acquire a fellow Canada based pharmaceutical manufacturer that will add over $2 million to its annual revenues.

The unnamed company's facility is roughly 22,000 square feet and manufactures pharmaceuticals, nutraceuticals and dermotologicals. Axxess, which makes and distributes both prescription and non-Rx medicinal products, will continue the distribution of its own-line of pharmaceuticals from its Markham location.

"This is an exciting time for our company. We anticipate completing the acquisition of the pharmaceutical manufacturer in the very near future. The acquisition will add over $2 million in annual sales to our financials, provide us with a large manufacturing facility and new product lines," stated Gerald Sequeira, president and chief executive, adding: "This is one more sign that we are focused on continuing to expand our operations across Canada and gain market share. We will have lots of information for our shareholders in the upcoming weeks. This information will define where we are and what is new and happening with Axxess Pharma."