The pharmaceutical technology developer announced the termination after Earth Vision Bio defaulted on payments required to maintain the deal. While the agreement initially targeted a completion date in late 2025, the buyer failed to finalize the acquisition, triggering a penalty structure for the delay.
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Nutriband Scraps Pocono Pharmaceuticals Sale Over Missed Payments
Nutriband Inc. has officially terminated its agreement to sell subsidiary Pocono Pharmaceuticals to Earth Vision Bio, citing a failure by the buyer to meet financial obligations. The decision follows a series of missed late fees after the transaction failed to close by its original end-of-2025 deadline.
Failure to Meet Financial Obligations
According to company statements, Nutriband received a total of $30,000 in late fees from Earth Vision Bio during the process. However, the company confirmed it has not received any additional payments since January 21, leading to the formal collapse of the divestiture.The termination leaves the future of Pocono Pharmaceuticals under the Nutriband umbrella for the time being. Nutriband had previously positioned the sale as a strategic move to focus on its core business, but the breach of contract by Earth Vision Bio has forced a reversal of those plans.
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