Tetra Bio-Pharma Inc. (TSX-Venture:TBP) was out Tuesday with exciting news. The Ottawa-based company told investors its Tetra Natural Health subsidiary had submitted two over-the-counter (OTC) DIN applications to Health Canada. The first application, submitted on November 15, is for the treatment of hemorrhoids.
The second application, submitted Tuesday, is for the temporary relief of aches and pains of muscles and joints associated with backache, lumbago, strains, bruises, sprains and arthritic or rheumatic pain, pain of tendons and ligaments.
Said CEO Guy Chamberland, “Tetra has always had a focus on bringing evidence-based therapies to patients, and this OTC drug line is part of that vision.”
Tetra continues to expect commercial launch in Canada in pharmacy retail outlets in early 2020, and is in commercial agreement discussions with various companies for the sale and distribution of these products. Tetra also plans to launch these products in the United States market in 2020.
Tetra shares rocketed a nickel, or 20%, to 30 cents, on volume of 2.3 million shares.