Medlab signs exclusive commercial agreement for 12 products with YesHealth
DATE: Thursday 23rd June 2022
Medlab Clinical Ltd (ASX:MDC) (Medlab, the Company), an Australian biotech using nano-particle delivery technology to enhance medicines’ effectiveness, is pleased to update shareholders on the signing of an agreement with YesHealth (Malaysia) for exclusive distribution rights for the Medlab branded nutraceutical (VMS) lines in Malaysia, Vietnam, and (Non-Exclusive) Singapore.
The binding 5-year exclusive agreement includes 12 Medlab nutraceuticals, inclusive of one NanoCelle® nutraceutical formulation into Malaysia and Vietnam (as exclusive territories) and Singapore (non-exclusive territory).
Under the Agreement, Medlab will supply nutraceuticals on a cost-plus basis as well as receive royalties on net sales.
- become the official distributor of NanoCelle and other Nutraceutical products for Medlab in Malaysia and Vietnam, as well as a non-exclusive distributor in Singapore
- be responsible for the registration of the products in their defined territories, and all sales, marketing, and logistics
- target pharmacy banners and integrative clinics in Malaysia and Vietnam, with a distribution goal of 2500 outlets distributing Medlab Branded Nutraceuticals
- register and release ten nutraceutical products in Year 1 and will attempt to introduce additional items in Year 2
Dr Sean Hall CEO Medlab States, “The YesHealth deal sees our Australian nutraceutical products being partnered/licenced in global territories, first it was PharmaCare here in Australia and then Cultech in the UK.”
And continued “Most markets we deal with, or want to deal with are regulated, Malaysia and Vietnam I don’t believe are an exception, so its good to know our products were [historically] all “listed” by the TGA, so as we understand it, our TGA records will significantly support the desired registrations YesHealth require.”
YesHealth is a Malaysian headquartered company specialising in consumer health and can be found online at https://yeshealth.com.my/ founded by Eddie Tie, whom is CEO and Managing Director.
YesHealth teams comprise of staff in product development, regulatory, operation, finance, sales & marketing and international business based in Malaysia and Vietnam. It has a two-prong business strategy and divided its target markets into the Practitioner and General Public.
To discuss global licensing opportunities please contact Medlab
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Medlab in-house Editor.