Result of AGM
RNS & Investor News
Launch of GoFigure range with Apollo Hospitals in India
09 December 2021
OptiBiotix Health India, a wholly owned subsidiary of OptiBiotix Health plc (AIM: OPTI), a life sciences business developing unique science and human study-based compounds that modulate the microbiome to address metabolic syndrome and diabetes, systemic low-grade inflammation, obesity, cardiovascular disease, high cholesterol and to support healthy aging, has signed an exclusive sales agreement with one of the leading hospital and pharmacy chain Apollo Hospitals Enterprises Limited ("Apollo") for the sales of its GoFigure weight management product range in India.
Apollo owns Apollo Pharmacies (https://www.apollopharmacy.in/) which is one of the largest and most trusted branded pharmacy network, with over 4,000 pharmacy outlets throughout India. The in-store launch is expected to take place in February 2022 and will progressively expand from there to other stores as well as online. India is a region of strategic interest to OptiBiotix with a middle class predicted to be the largest in the world by 2025 (The rising importance of the middle class in India - The Financial Express, March 2021).
GoFigure is OptiBiotix's direct-to-consumer (D2C) range of weight management products which combines various meal replacement and healthy snacking options including its multi award winning weight management ingredient SlimBiome®. The initial product launch will consist of meal replacement shakes and powdered beverages and will be expanded over time.
This agreement is part of OptiBiotix' strategy to expand the geographical footprint of its pro- and prebiotic business with leading brands in the health & wellness market. It follows the recruitment of Dr Taru Jain as Business Director India earlier in the year (RNS: 19 January 2021) and the incorporation of OptiBiotix India in recent weeks (RNS: 17 November 2021).
René Kamminga, CEO of OptiBiotix Limited, commented: "We are very pleased to announce this agreement with Apollo, a leading pharmacy chain in India. Our GoFigure range of weight management products have been specifically formulated to support consumers aiming to reduce their weight and help them stick to their change in diet. We are very pleased that Apollo has selected GoFigure as its range of weight management products of choice to offer to its consumers. This launch is another important step in building sales and brand presence for OptiBiotix' solutions with major partners around the world."
For further information, please contact:
OptiBiotix Health plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
Cairn Financial Advisers LLP (NOMAD)
Tel: 020 7213 0880
Liam Murray / Jo Turner / Ludovico Lazzaretti
Cenkos Securities plc (Broker)
Tel: 020 7397 8900
Callum Davidson / Neil McDonald
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd
Mob: 07876 741 001
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identiﬁed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.
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