Premier Biomedical Inc (OTCMKTS:BIEI) was a notable outperformer during Wednesday’s trading session surging by 56% on 5 times the 30 day average. The stock has witnessed massive buying interest over the last few trading sessions and has been able to breach above the resistance zone of $0.0333, which is a huge positive. Premier Biomedical currently trades below its 200 day moving average. The MACD oscillator continues to show no signs of a bearish reversal, which is a positive. The RSI indicator continues to form higher highs indicative of the strong bullish momentum. Traders see the stock heading to levels of $0.0682.
To explore the ever growing market conditions in Brazil, Premier Biomedical Inc (OTCMKTS:BIEI) has decided to make a joint venture with Auramedi Farmacêutica. As per the reports, both the companies have signed a non-binding letter of intent that opens up the possibilities to further form a JV.
The prime objective of this JV is to enhance the reach of Premier’s treatment technologies and look after the distribution and manufacturing of company’s medical devices and drugs in the entire South American market.
Road Ahead
Premier is one of the leading players in the pharmaceutical industry, but it doesn’t have a solid marketing network in the South American market, including Brazil. On the back of this joint venture deal, the senior management of the company hopes that the manufacturing, approval, distribution and sales of all the treatments owned by Premier will boost in the South American region.
A recent study conducted by a third party research firm anticipates that the annual projected sales of all the treatments of Premier are likely to surpass $400 million level by the end of 2020.
The senior management officials of Premier are delighted to execute this deal and hope that it will help the company expand its business in the South American market. According to William A. Hartman, CEO & President, Premier Biomedical, it’s great to enter into a deal with a company like Auramedi Farmacêutica that’s known for its commitment and dedication.
Hartman further added that the proposed joint venture deal will not only be helpful for both the companies, but all those patients in Brazil and other South American states that couldn’t get access to quality treatments of deathly diseases until now.
Premier will make sure that all of its world-class technologies, devices, treatments, etc. are made available to customers in Brazil in the best way possible. It will keep all the investors abreast about future advancements.
