Exclusive distribution deal secured for weight loss product
York-based life sciences business OptiBiotix has signed an exclusive distribution agreement for its SlimBiome® Medical supplement with United Italian Trading Corporation (Pte) Ltd (“UITC”).
The agreement grants UITC exclusive rights to distribute OptiBiotix’s SlimBiome® Medical proprietary weight management product in Singapore.
Exclusivity is subject to UITC placing a first order of SlimBiome® Medical by the end of November 2020 for a minimum quantity of 3,000 boxes and increasing annual sales targets.
UITC is an established pharmaceutical and medical device marketing and distribution company founded in Singapore in 1963.
It distributes pharmaceutical and medical products to a wide variety of clients that include hospitals, polyclinics, medical specialists clinics, family physician clinics, pharmacies, supermarkets and departmental stores.
Dr Fred Narbel, managing director of OptiBiotix’s prebiotics division, said: “We are pleased to have signed an agreement with UITC to distribute our award-winning medical device in Singapore.
“UITC contacted us expressing an interest in our CE-marked medical device after carefully reviewing our peer-reviewed publications underlining the recognition and reputation OptiBiotix is establishing globally for its brands and scientific work.”
Dexter Fung, deputy managing director at UITC, said: “As an established pharmaceutical company, our vision is to distribute products that meet the needs of consumers to achieve and maintain optimal quality of life.
“Obesity is on the rise in Singapore, increasing the risk of developing health problems like diabetes, heart disease and stroke.
“UITC feels that the award winning SlimBiome® Medical has great potential to fill the void of an effective weight control product in helping people to loose weight safely and effectively.
“In the last two decades, several weight loss medications and supplements have been withdrawn due to safety issues, we feel strongly that SlimBiome® Medical is the answer to this need.”