OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces it has entered into a five year distribution agreement with Trigen Pharma International (Pvt) Ltd (“Trigen”) to exclusively distribute and commercialise OptiBiotix´s own label CholBiome® products containing its cholesterol and blood pressure reducing strain LPLDL®, in Pakistan.
Trigen is one of the leading pharmaceutical & healthcare companies in Pakistan and specialises in cardiovascular health. Under the terms of the agreement, Trigen will promote OptiBiotix´s range of CholBiome® products (CholBiome®and CholBiomeX3®) containing LPLDL® throughout Pakistan to maximise the financial return for both parties. In return for exclusivity Trigen will cover all costs for product registration with the Drug Regulatory Authority of Pakistan (DRAP).
Trigen is part of Shahnawaz Group of Companies, which employs over 20,000 people with an annual turnover of over US$350m. Shahnawaz Group operates public and private companies in many industries such as pharmaceutical, corporate farming, FMCG, sugar industries, automobiles, textile manufacturing, engineering, information technology, satellite communication services and construction.
This agreement is the first covering the CholBiome® range of OptiBiotix´s own label products and expands OptiBiotix´s sales into Asia. Pakistan has a population of 200 million with cardiovascular disease accounting for up to 19% of all deaths (WHO) and 33% of the population aged 45 or above suffering from hypertension (Journal of Pakistan Medical Association & National Health Survey 2011). CholBiome® products containing LPLDL® have a unique ability to reduce both cholesterol and blood pressure providing a clinically proven natural product to help reduce these cardiovascular risk factors in countries with a high prevalence of these conditions.
Product sales are difficult to estimate in new territories and markets but are likely to be in the low to mid six figures in the near term, growing as Trigen builds market presence.
Stephen O´Hara, CEO of OptiBiotix, commented: “We are pleased to announce this agreement with Trigen which expands sales of LPLDL® into Pakistan, where high blood pressure and high cholesterol are significant causes of morbidity and mortality. We chose Trigen due to its leading position in Pakistan´s pharmaceutical industry, specialism in cardiovascular health, and track record of growing product sales. This agreement is a strategic step to access the Asian probiotic market and extend the distribution of OptiBiotix´s own label LPLDL® formulations like CholBiome® into international markets. CholBiome® is part of a portfolio of around 30 formulations of LPLDL® allowing OptiBiotix to offer multiple product solutions to consumer health, pharmaceutical, retail, and the companies own online platform. This strategy is designed to build multiple revenue streams from ingredient sales, white label and own branded products, across multiple channels with leading industry partners from around the world.”