9th Dec 2019 11:43
(Alliance News) - OptiBiotix Health PLC on Monday said it has signed an exclusive deal for distribution of probiotic supplement 'CholBiome x3' in the Philippines.
Shares in the supplement maker were down 3.9% at 49.00 pence in London.
The deal was signed between OptiBiotix subsidiary ProBiotix Health Ltd and CTC Group unit CTC Far East Philippines Inc. CTC Group itself is the global business network group of Koen Visser Corp.
Under the deal, ProBiotix will supply CholBiome x3 to CTC for distribution in the Philippines.
The deal's exclusivity is subject to minimum order quantities, as well as a multi-year business plan aimed at improving OptiBiotix's security in terms of income and revenue growth.
ProBiotix Chief Executive Steve Prescott said: "We are pleased to announce this agreement with CTC, which will expand ProBiotix's presence in the emerging Asia-Pacific region. CTC was chosen as our partner for CholBiomex3 product introduction in the Philippines because of their extensive knowledge of the local market and consistent track record successfully launching new products."
This latest deal follows three other agreements announced Friday last week for ProBiotix's GoFigure and SlimBiome weight loss products in Poland, Malaysia and Singapore.
By Anna Farley; [email protected]
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