Nutriband to sell majority stake of Pocono Pharmaceutical for $5M

Nutriband (NTRB) signed an agreement to sell a 90% interest in its subsidiary Pocono Pharmaceutical for $5M to EarthVision Bio. Nutriband. Shareholders will retain 10% of the shareholding in Earth Vision Bio following the acquisition. Nutriband will use the proceeds from the sale of Pocono Pharma towards its continued development of AVERSA Fentanyl which has the potential to be the world’s first and only abuse-deterrent opioid patch designed to deter the abuse and misuse and reduce the risk of accidental exposure of transdermal fentanyl patches.