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Voyageur Pharmaceuticals announces its "From the Earth to the Bottle" Iodine Contrast strategy

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Voyageur Pharmaceuticals announced its fully-integrated iodine business strategy which complements its ongoing barium contrast marketing strategy.


Additional Information:

Company: Voyageur Pharmaceuticals
Stock Symbol: TSXV: VM
Date Published: Feb 26, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Voyageur Pharmaceuticals announced its fully-integrated iodine business strategy which complements its ongoing barium contrast marketing strategy.

Iodine contrast, a clear, water-based liquid sold in vials ranging from 15 milliliters to 500 milliliters, is one of highest volume consumables in healthcare.

Water soluble, iodinated contrast media contains iodine atoms used for x-ray-based imaging such as computed tomography, fluoroscopy, angiography and venography.

Contrast agents can be subdivided into 3 groups which include Barium contrast media, Iodine contrast media and Gadolinium contrast media.

Iodine contrast, the highest consumed contrast of the three groups, has a USA market estimated at $1.5 billion annually.

Voyageur’s Earth to the Bottle Iodine strategy will be completed in various stages.
• Stage 1 will start with drug registrations with the FDA and Health Canada.
• Stage 2 will see the company importing iopamidol and begin pharmaceutical manufacturing of
the iodine contrast.
• Stage 3 will see the construction of an API (Active Pharmaceutical Ingredients) iopamidol plant
where the company purchases iodine feedstock and produces its own active pharmaceutical
• Stage 4 will see the production of iodine from subterranean brines with iodine concentrate
feeding the API iopamidol plant.

Upon completion of steps 1 to 4, Voyageur will achieve full integration for iodine contrast sales, allowing the company to be highly competitive by controlling all input costs under the motto of: "From the Earth to the Bottle".

Brent Willis, CEO, stated: “Voyageur will have a unique advantage as being the only company with direct ownership of the active pharmaceutical ingredients used in radiocontrast products. By producing our own low-cost ingredients and with the added advantage to be able to package both barium and iodine products together for sales bids, may increase our competitive advantage over and above any other company operating in this market.”

At the present time, Voyageur has completed the formulations of its brand-named iodine product, IoX contrast, an iopamidol based sterile injectable iodine contrast media product.

Voyageur will have multiple product lines of IoX for multiple applications.

This proven, fully integrated strategy was developed by a company named E-Z-EM Canada, which produced their own barium feed stock from a barium quarry in Nova Scotia, Canada.

Becoming fully integrated into the barium contrast sector allowed them to take the majority of market share within the North American market, prior to their acquisition by Bracco Imaging in 2007 for US$240 million.

The quarry has since been depleted and Bracco Imaging now relies on high cost, man-made synthetic barium sulfate for their contrast products, as do many companies in this health care space.

Brent Willis, CEO, added: “Voyageur is implementing the same proven strategy with our naturally occurring, high-purity barium sulfate property, located in British Columbia, Canada. Voyageur is focusing on repeating the strategy with the subterranean heavy mineral brines in the USA.”

Voyageur owns 100% interest in three barium sulfate deposits in British Columbia, including two properties suitable in grade for the industrial barite marketplace, as well as significant interests in a high-grade iodine, lithium & bromine brine project in Utah, USA.

Testing by SGS confirmed that Voyageur’s Frances Creek barium sulphate, the highest grade natural occurring barium sulfate in the world, can produce a 98.6% Barium Sulphate content product, exceeding all specifications under the US Pharmacopeia guidelines which specifies 97.5% Barium Sulphate.

Voyageur’s goal is to generate positive cash flow from all its operations being fully integrated with our GMP pharmaceutical manufacturing partners which provide turnkey manufacturing, bottling and distribution of radiographic contrast for MRI, X-ray and CT scan applications.

Fundamental Research recently initiated coverage on Voyageur, giving the company a buy rating and a fair value estimate of $0.39.

The shares are trading at $0.08.

For more information, please visit the company’s website,, contact Steven R. Livingston, Vice President Finance, at 403-471-1659, or email

I’m Cassandra Bolinski for Investmentpitch Media