16th May 2018 12:11
LONDON (Alliance News) - OptiBiotix Health PLC said Wednesday it entered a five-year exclusive contract with Akums Drugs & Pharmaceuticals Ltd to manufacture and supply products in India.
The company, focused on developing compounds to tackle obesity, high cholesterol, diabetes and skin care, said Akums will manufacture products containing OptiBiotix's cholesterol and blood pressure reducing strain LPLDL.
OptiBiotrix said the agreement will "maximise the financial return for both parties".
Akums is a contract manufacturing organisation in India partner of several pharmaceutical and food supplement company such as Novartis International AG, Procter & Gamble Co and Sanofi SA.
"This agreement is a strategic step to add manufacturing to the supply chain in the Asian probiotic supplement and pharmaceutical market and extends the commercial reach of OptiBiotix's LPLDL strain into Southern Asia," OptiBiotix Chief Executive Officer Stephen O'Hara said.
"This agreement is another step in a strategy designed to build multiple revenue streams from ingredient sales, white label and own label branded consumer and pharmaceutical products, across multiple channels, with leading industry partners from around the world."
OptiBiotix shares were trading flat at 74.00 pence.
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