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Suda Pharmaceuticals outlines COVID-19 steps as it continues "doing deals"

The company recently entered into an exclusive licence agreement with South Korean subsidiary of Mitsubishi Tanabe Pharma Corporation.

SUDA Pharmaceuticals Ltd - Suda Pharmaceuticals sends letters to leading shareholders outlining next steps
Suda is a leader in oro-mucosal drug delivery

Suda Pharmaceuticals Ltd (ASX:SUD) (FRA:E4N), a leader in oro-mucosal drug delivery, has outlined the plans it has made and the steps it is taking due to the COVID-19 pandemic.

The company intends to continue working towards the greater good by steering through the challenges by enforcing the distance rule and establishing a work from home connection.

Deals continuing

In a letter to shareholders, the company said: "Let us say in the simplest fashion, we are still doing deals to bring your company to its potential and our research is going full bore."

It said: “After some serious thought though we decided that a brief update as to how we’re dealing with the situation would be in our shared interests.

“Our fiduciary responsibility is to keep you and the market informed, regardless of the tempest that blows across our bows."

Dialogue ongoing

Suda continued: “We have been in dialogue with our national and international partners as they assess impacts on their core business activities, and we assess how best we can continue to work together here and abroad.

“We are continuing to work through and promote these projects, not the least of which was our recent announcement that we had signed a new agreement with Mitsubishi Tanabe Pharma Korea for the license and supply of ZolpiMist™ - a significant deal and one we are proud of.”

The company acknowledged the investment made by shareholders and extended personal hope during this difficult time.

“You can rest assured that we are continuing to work and create value for you.”

Quick facts: SUDA Pharmaceuticals Ltd

Price: 0.042 AUD

ASX:SUD
Market: ASX
Market Cap: $5.97 m
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