OptiBiotix Health reveals license agreement with ALFASIGMA
StockMarketWire.com - OptiBiotix Health entered a license agreement with ALFASIGMA to exclusively commercialise food supplements containing OptiBiotix's cholesterol and blood pressure reducing LPLDL strain in Italy.
The agreement is a ten year exclusive license agreement with an upfront payment and royalties with five figure guaranteed annual minimum payments.
Under the agreement, ALFASIGMA will obtain the license to promote food supplements containing LPLDL throughout Italy for cardiovascular health, with the aim of maximising the financial return for both parties.
ALFASIGMA, is an integrated multinational pharmaceutical company with 2017 revenue in excess of €1bn and 2,800 employees globally.
Outside of its core Italian market, ALFASIGMA has 16 subsidiaries in Europe, Asia, North & Central America and Africa, and has authorised distributors in more than 70 countries.
More than 44% of ALFASIGMA turnover comes from internally developed proprietary products. One of these, Normix/Xifaxan, has reached a worldwide turnover in excess of €1.3bn through ALFASIGMA partners.
This agreement follows on from the launch of LPLDL in the US and is a strategic step to access high value high growth markets around the world.
It extends the commercialisation of LPLDL into Italy, the largest probiotic supplement market in Europe, and the second largest market in the world. Italy is an estimated >$500m probiotic supplements market with a 25% per annum growth forecast to 2021.
OptiBiotix commercial director Per Rehne commented: "We are excited to announce this ten year exclusive agreement with ALFASIGMA which expands sales of LPLDL into Italy, the largest and fastest growing probiotic market in Europe.
"ALFASIGMA are one of the largest pharmaceutical companies in Italy with a strong track record in food supplements and pharmaceuticals for cardiovascular health.
"This agreement provides upfront and guaranteed minimum future payments with LPLDL offered in multiple product solutions to consumers in Italy.
"This agreement is another deal from a very strong pipeline with industry partners of increasing size and revenue potential targeted at the largest and fastest growing markets around the world."
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