Comvita has announced its global licensee for Medihoney specialist wound care products - Derma Sciences Inc - has achieved $US10million in annualised sales.

The Paengaroa-based company says this is a milestone for the company and the products it sells.

Under the terms of its exclusive worldwide licensing agreement with Comvita, Derma Sciences will make a capital payment to Comvita of $US1million on November 30.

A spokesperson for the company says as well as having an equity stake (and warrants) in Derma Sciences, which is now valued by the market at approximately $US11million, under the licensing agreement with Derma Sciences Comvita receives on-going monthly royalty payments.

Comvita supplies medical grade Manuka honey for use in a range of advanced wound care dressings which are sold to the professional and hospital markets worldwide.

The license agreement also provides for Comvita to sell Derma Sciences manufactured

Medihoney products to the over-the-counter (OTC) and pharmacy markets worldwide.