TheraVet, a specialist in the treatment of osteoarticular diseases in companion animals, soared on the stock market on Tuesday following the signature of a distribution agreement covering 24 countries worldwide.

Under the terms of the agreement, signed with French company Vetpharma, the company's Biocera-Vet product range - a line of calcium phosphate-based, biological bone substitutes - will now be available on all continents.

The Walloon-based biotech company points out that the agreement will open doors to high-potential territories such as Scandinavia, Brazil, South Africa, Australia and Japan.

In detail, the agreement covers Norway, Sweden, Denmark and Finland, Eastern Europe (Poland, Bulgaria, Romania, Czech Republic, Croatia and Hungary), Latin America (Brazil, Mexico, Colombia, Argentina, Chile and Peru), South Africa, Australia and certain Asian countries (Japan, Indonesia, Philippines, Vietnam, Thailand and South Korea).

The news led to a surge in the company's share price, which soared by more than 85% at the time of its last available quotation, shortly before 12:30 p.m., in volumes almost 40 times greater than those of recent trading sessions.

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