Viveras Pharmaceuticals, the company that makes the insulin injector, wants to increase sales of the injectors and to attract customers with its “super-thin” packaging.
The company is looking to increase its share price by around 10% this year as it looks to get into the diabetes market.
It is planning to open a new US headquarters in Detroit.
The injector is a popular brand for Viverans and the company wants to keep its brand strong in the market.
In the US, Viveran products make up around 60% of the market, and they have also attracted customers from India, South Africa and Brazil.
The new US office will bring together the company’s US manufacturing and distribution facilities and will increase its global reach, according to a statement on the company website.
Viverabies’ CEO Richard Viver told CNBC that the company was not seeking a quick jump to profitability, but rather a long-term growth.
“We’re not in this for quick gains,” he said.
The company’s stock rose almost 11% in after-hours trading, before dropping a little more than 0.3% after the news broke.”
Vivera is a brand that has been around for a long time, and we believe it’s a good fit for the new market that we’re trying to reach.”
The company’s stock rose almost 11% in after-hours trading, before dropping a little more than 0.3% after the news broke.