OptiBiotix Health inks manufacturing deal with KAG Industries

30th Apr 2024 16:55

(Sharecast News) - Life sciences company OptiBiotix Health announced on Tuesday that its its Indian subsidiary, OptiBiotix Health India (OHI), has entered into a manufacturing agreement with KAG Industries for the supply of 'Slimbiome' products tailored for the Indian market.

The AIM-traded firm said KAG, a specialised contract manufacturer of nutritional powders with its own research and development facilities, had crafted five unique flavours specifically designed for the Indian consumer.

It said the products would be marketed by OHI to Dr Morepen, a well-established brand in India dedicated to promoting customer health and well-being since 2001.

OptiBiotix said India represented a strategic market, with its population of 1.4 billion and a notable obesity prevalence of 40.3%.

The burgeoning middle-class population, expected to reach 475 million by 2030, presented a significant growth opportunity.

OptiBiotix said it was aiming to capitalise on that trend, particularly as India emerged as a dominant hub for global middle-class consumers by 2035.

"We are pleased to announce this agreement with KAG to support the launch of SlimBiome containing products with Dr Morepen, a well-known and trusted supplier to pharmacies, physicians, and retail customers across India," said chief executive officer Stephen O'Hara.

"We look forward to the upcoming launch of products across India with Dr Morepen and our manufacturing partners."

At 1630 BST, shares in OptiBiotix Health were up 5.8% at 18.25p.

Reporting by Josh White for Sharecast.com.