Firebrick Pharma (ASX:FRE) has formally earmarked its ambitions to penetrate the US retail market with its Nasodine (nasal iodine) product after hiring one Mr. Al Moghaddam as US commercial director.
The company began developing an iodine-based nasal spray product during the COVID years with a view towards it being an anti-infective, but major approvals weren’t secured until after the pandemic subsided.
Backing the move is one indicator of note: the company reported on Tuesday US online Nasodine sales have grown over 200% in FY26 and cited positive reception from “20 retail pharmacy groups” while attending a recent conference in Boston.
The company reports proposed pricing was well accepted as well as its position in the “emerging category of ‘nasal health.'”
“Nasodine’s positioning as a cosmetic nasal cleanser was not seen as a limitation on the retail opportunity for the product,” Firebrick added on Tuesday.
“Up to six” pharmacy groups have reportedly expressed ‘strong intent’ to place early orders reflecting some 700 stores; the company also wrote “we should introduce the throat spray and other new products as soon as possible.”
“Mr Moghaddam has already started follow-on negotiations with independent regional pharmacy groups. In addition, retail product packaging designs are being upgraded and scaled-up manufacturing preparations are underway,” the company added on Tuesday.
Should the plan go ahead all cards in order, FRE will eventually establish a US subsidiary named ‘Firebrick Pharma Inc (FREI) that will act independently to the ASX-listed Australian entity; the latter will make money off FREI through licencing fees and a 12% royalty.
“These license fees and dividends could generate substantial cash flows for Firebrick and potentially deliver early profitability for the Australian entity,” FRE wrote.
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