Company: PETVW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006783
Chunk: 43

Company: PetVivo Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
 many
    dogs and horses have long-lasting multi-month improvement in lameness after having been treated with Spryng™.

    ●
    After receiving a Spryng™
    injection, many canines are able to discontinue the use of NSAID’s, eliminating the risk of negative side effects.

    ●
    Spryng™ is an effective
    and economical solution for treating osteoarthritis. A single injection of Spryng™ is approximately $600 to $900 per joint
    and typically lasts for at least 12 months.

Historically,
drug sales represent up to 30% of revenues at a typical veterinary practice (Veterinary Practice News). Revenues and margins at veterinary
practices are being eroded because online, big-box, and traditional pharmacies have recently started filling veterinary prescriptions.
Veterinary practices are looking for ways to replace lost prescription revenues with safe and effective products. Spryng™ is a
veterinarian-administered medical device that should expand practice revenues and margins. We believe that the increased revenues and
margins provided by Spryng™ will accelerate its adoption rate and propel it forward as the standard of care for canine and equine
lameness related to or due to synovial joint issues.

We
commenced sales of Spryng™ in the second quarter of fiscal 2022 and plan to increase our commercialization efforts of Spryng™
in the United States through our distribution relationship with MWI Veterinary Supply Co. (“Distributor” or “MWI”)
and the use of sales reps, clinical studies, and market awareness to educate and inform key opinion leaders on the benefits of SpryngTM.

We
entered into a Distribution Services Agreement (“Distribution Agreement”) with MWI on June 17, 2022. Pursuant to the Agreement,
we appointed MWI to distribute, advertise, promote, market, supply, and sell the Company’s lead product, SpryngTM on
an exclusive basis for two (2) years within the United States (the “Territory”), transitioning to a non-exclusive basis thereafter;
provided however that the Company shall extend the exclusivity for an additional one (1) year if MWI achieves certain performance targets
agreed upon by the parties. The Company can continue to sell Spryng™ within the Territory to established accounts, which include:
(a) customers who have purchased SpryngTM from the Company prior to the date of the Agreement, (b) customers who require