Business
Distribution of products in China and Hong Kong
Distribution of products in China and Hong Kong.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \n \n RNS Number : 8781L\n OptiBiotix Health PLC\n 05 May 2020\n \n \n \n OptiBiotix Health plc\n \n \n (\n \n \"OptiBiotix\" or the \"Company\")\n \n \n Distribution of products in China and Hong Kong\n \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 three-year distribution agreement with Pierce Group Asia subsidiary, Pierce ESIM Pte Limited (\"Pierce\").\n \n \n \n \n \n Founded in 2002 and headquartered in Singapore, Pierce specialises in cross border corporate development and investments with a focus on high growth partnerships. Pierce is an Asian focused B2B product developer and distributor with an experienced leadership team and extensive corporate network. \n \n \n \n \n \n The agreement grants Pierce exclusive rights to import and commercialise OptiBiotix's SlimBiome® and \n LPLDL® to manufacture, develop, and sell a wide range of finished products to China and Hong Kong, with the aim of maximising the financial return for both parties. Under the agreement, Pierce will also conduct business development activities in other Asia-Pacific geographies to advance OptiBiotix's commercial interests. Market exclusivity is linked to minimum yearly order quantities.\n \n \n \n \n \n This agreement is an important step in meeting the growing need for weight management and cardiovascular products in the large consumer markets of China and the Asia Pacific.\n \n \n \n \n \n · \n China has the largest number of overweight or obese people worldwide with about 46% of adults and 15% of children being obese or overweight (Wang, Y. Lancet 2019) \n \n \n · \n Non-communicable diseases account for 87% of total adult deaths in China of which cardiovascular diseases (\"CVD\") account for almost half (45%)*\n \n \n · China has one of the highest CVD death rates in the world with one in five adults in China estimated to have cardiovascular disease*\n \n · The Chinese Vitamins, Minerals & Supplements industry increased 9.2% between 2017 and 2018 to reach a total market size of US$21 billion**\n \n \n * World Heart Federation factsheet 2017\n \n \n **TMO Group 2019\n \n \n \n \n \n This agreement represents another strategic step to take OptiBiot...