Stellar Pharmaceuticals has entered into a collaboration agreement to promote Pfizer's absorbable Gelfoam haemostatic device in Canada.
Under the agreement, Stellar will act on behalf of Pfizer in the promotion, sales and marketing of Gelfoam to surgeons and other health care practitioners in Canada, while Pfizer will look after all distribution, regulatory affairs and medical related activities.
Gelfoam device is intended for use in surgical procedures as a haemostatic agent, when control of capillary, venous, and arteriolar bleeding by pressure, ligature, and other conventional procedures is either ineffective or impractical.
Stellar president and CEO Rob Harris said Gelfoam haemostatic device is used in hospitals and surgical centers across Canada.
"The addition of Gelfoam is another step forward as we expand our hospital, specialty care business, which is a target area of growth for Stellar," Harris added.
"Gelfoam should benefit from the increased promotion planned by Stellar, as well as the complimentary presence of our recently announced Collatamp G acquisition".