Sonoma Pharmaceuticals (NASDAQ:SNOA) is in the news Friday after announcing a deal with Crown Laboratories that has SNOA stock on the rise.
Sonoma Pharmaceuticals has entered into an exclusive partnership with Crown Laboratories in connection to its Microcyn skincare products. This grants the latter exclusive rights to sell and market SNOA products over-the-counter in the U.S.
The deal covers Sonoma Pharmaceuticals certain dermal sprays and gels. These products are used to treat itch and pain from various types of dermatoses. Crown Laboratories will be selling these under the name “Sarna®, the #1 Dermatologist Recommended Anti-Itch Brand.”
Crown Laboratories will only have the rights to the over-the-counter versions of Sonoma Pharmaceuticals’ skin treatments. The prescription-strength versions of these treatments will continue to be sold by SNOA.
Amy Trombly, CEO of Sonoma Pharmaceuticals, said the following about the news pushing SNOA stock higher today.
“We are excited to partner with Crown Laboratories, which shares our passion of providing patients with access to highly effective health care products. In addition, Crown has extensive experience selling in OTC markets and this partnership will expand our OTC offerings to consumers across the United States and into online retail markets.”
The Sonoma Pharmaceuticals news release doesn’t reveal the financial details of its exclusive partnership with Crown Laboratories.
SNOA stock was up 87.6% as of Friday morning and is up 153.2% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.