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Devonian Health Group, Inc. ( (TSE:GSD) ) has shared an announcement.
Devonian Health Group Inc. announced that its pharmaceutical distribution division, Altius, will not have its license for distributing Dexlansoprazole renewed, a drug that significantly contributed to Devonian’s revenue. The termination will take effect on April 17, 2025, although the company will continue to distribute Pantoprazole Magnesium and Cleo-35® beyond this date. This change could impact Devonian’s financial performance and industry positioning, as Dexlansoprazole accounted for the majority of its revenue recently.
More about Devonian Health Group, Inc.
Devonian Health Group Inc. is a clinical stage pharmaceutical company focused on developing novel therapeutic solutions for autoimmune inflammatory diseases, including ulcerative colitis and atopic dermatitis. The company is also involved in the cosmeceutical products development and operates a pharmaceutical distribution division, Altius Healthcare Group L.P., which specializes in selling prescription drugs in Canada. Devonian is publicly traded on the TSX Venture Exchange and OTCQB exchange.
YTD Price Performance: 12.50%
Average Trading Volume: 23,689
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$26.68M
See more insights into GSD stock on TipRanks’ Stock Analysis page.
