Business
Distribution Agreement for SlimBiome® Medical
Distribution Agreement for SlimBiome® Medical.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \n \n RNS Number : 3624G\n OptiBiotix Health PLC\n 17 March 2020\n \n \n \n OptiBiotix Health plc\n (\"OptiBiotix\" or the \"Company\")\n \n \n \n Exclusive Distribution Agreement for SlimBiome® Medical\n \n OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease and diabetes, announces it has entered into a one year exclusive distribution agreement with Prosperous Pharma (\"Prosperous\").\n \n \n Based in Lebanon, \n Prosperous is a licensed pharmaceutical distributor marketing medical devices, nutraceuticals and prescription medication to doctors, pharmacies and consumers \n https://www.prosperous-pharma.com.\n \n The agreement grants Prosperous exclusive rights to distribute and commercialise OptiBiotix's SlimBiome® Medical to the Gulf Cooperation Council (\"GCC\") States and the Levant comprising the Kingdom of Saudi Arabia, Kuwait, Qatar, the Kingdom of Bahrain, the Sultanate of Oman, Jordan, Egypt, Lebanon and co-exclusive rights for the United Arab Emirates for an initial period of one year, to be extended if the conditions set in the business plan outlined in the contract are met. Market exclusivity is linked to minimum order quantities.\n \n \n \n This agreement represents another strategic step to take OptiBiotix's SlimBiome® Medical to international markets and follows on from the announcement of the signature of distribution agreements for Greece, Cyprus (RNS: 4 December 2018) and Bulgaria (RNS: 9 April 2019) as well as the commercial launch to the UK (RNS: 24 April 2019) and European markets (RNS: 1 May 2019).\n \n \n Mohammed Kadi, CEO of Prosperous Pharma said: \"We are happy to be working with Optibiotix in marketing and distributing Slimbiome® Medical in the GCC States and Levant region. We believe this product will add value to our people's health. This region has one of the highest prevalence rates in obesity and other chronic diseases. We will leverage our experience in pharmaceutical marketing and access to distribution channels to deliver as much value as we can. This also aligns with our strategic goal to bring unique products backed up with science to our customers.\"\n \n \n \n Dr. Fred Narbel,\n \n \n \n \n \n Managing Director of Optibiotix's prebiotics division\n \n , c...