20th Aug 2024 14:20
(Alliance News) - OptiBiotix Health PLC on Tuesday said it was confident in its outlook as it was gaining commercial traction with large partners.
The Heslington, York-based life science company focusing on human microbiome research said that the recovery of sales activity in 2023 continued into 2024, buoyed by "strong" e-commerce sales and several new large partners placing large orders for final products such as Dr Morepen in India.
Dr Morepen is a healthcare brand that sells products such as blood glucose monitors and digital thermometers.
In its Consumer Health & Ecommerce division, OptiBiotix said it made "significant" investments to drive direct-to-customer sales as a strategic move to reduce reliance on retail partners and increase profit margins.
Chief Executive Officer Stephen O'Hara said: "Having spent a number of years carrying out clinical studies to gain health claims on our first generation products, we are now gaining commercial traction with large partners in key markets. We anticipate this trend will continue in 2024 and hope to add to this, other partners who are interested in our potentially industry changing second-generation products. With appetite suppression, gut health, sugar alternatives, and modulation of the human microbiome attracting ever-increasing interest, we look to the future with a high degree of confidence."
OptiBiotix shares fell 7.1% to 23.00 pence each on Tuesday afternoon in London.
By Tom Budszus, Alliance News slot editor
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