Business
Distribution Agreement for SlimBiome® in Thailand
Distribution Agreement for SlimBiome® in Thailand.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \nRNS Number : 8721Y OptiBiotix Health PLC 14 May 2019 \n\nOptiBiotix Health plc\n(\"OptiBiotix\")\n \nDistribution Agreement for SlimBiome® in Thailand\n \nOptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high\ncholesterol and diabetes, announces it has entered into a three year distribution agreement with Primo Trading Co., Ltd (\"Primo\") to exclusively distribute and commercialise OptiBiotix's SlimBiome® and SlimBiome® containing ingredients in Thailand. \n \nThe agreement grants Primo exclusive distribution in Thailand in return for meeting annual sales targets to maintain exclusivity. Primo's commitment to purchase a minimum of 500kg in the first 12 months rising to 5,000kg in the third year, reflects its confidence in SlimBiome® from its pre-launch sales forecasts and includes a 100kg initial purchase order on signing this agreement. Primo is a national distributor of specialised food ingredients to a broad range of manufacturers in the nutraceutical, pharmaceutical and supplement industries based on strong customer relationships.\n \nThis agreement follows on from the recent FSSAI approval gained by OptiBiotix's partner, Zeon Life Sciences, for the manufacturing of SlimBiome® and SlimBiome® containing ingredients in India to supply the Asian markets (RNS: 11 April 2019). \n \nThailand is experiencing an obesity wave with one in three men and 40% of women now classified obese. The country is now the second heaviest in Asia after Malaysia, mainly as a result of increasing fast food outlets and high sugar usage throughout the food industry. \n \nChristina Wood, Sales & Marketing Director, commented: \"We are pleased to announce this exclusive distribution deal and sales order with such a well-established national distributor of high-quality ingredients in Thailand. Achieving FSSAI approval for the manufacturing of SlimBiome® in India enables us to reach and service the increasing demand from the Asian countries as part of our expanding commercialisation strategy. The growing obesity crisis has opened up an opportunity in these markets for SlimBiome® where food supplements and functional holistic produc...