September 19, 2016 / 12:22 PM / in a year

BRIEF-Pediapharm announces global exclusive licensing agreement for Relaxa(R)

Sept 19 (Reuters) - Pediapharm Inc

* Pediapharm announces global exclusive licensing agreement for Relaxa(R), an established Canadian product with existing revenues

* Pediapharm will pay licensor royalties based on annual net sales of product

* Under terms of licensing agreement, co has right to acquire Relaxa(R) at any time until 7th anniversary of effective date of licensing agreement

* Under terms of licensing agreement, co has exclusive right to manufacture, promote, market, sell and distribute Relaxa(R) globally

* Price payable for Relaxa(R) during such term shall be 5 million dollars plus a 2% royalty on annual net sales of product up to $1.5 million Source text for Eikon: Further company coverage:

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