McPherson's (ASX:MCP) said that its unit, McPherson's Consumer Products, entered into a three-year pharmacy wholesaler agreement with Sigma, a unit of Sigma Healthcare (ASX:SIG), according to a Monday filing with the Australian bourse.

The agreement, effective in May, will shift McPherson's operations from its current direct-to-store model to a third-party wholesaling model, the filing said.

This partnership will see McPherson's transition an annual revenue stream of AU$50 million to AU$55 million from retailers to Sigma, the filing added.

McPherson's shares were down 2% in recent Monday trade, while Sigma Healthcare's shares gained about 1%.