OptiBiotix extends CholBiome sales channel to Russia and Kazakhstan

OptiBiotix Health on Wednesday entered into a three-year distribution agreement for its own-brand CholBiome products in Russia and Kazakhstan.

SilvExpo, a company focussed on the export of high-quality next generation food supplements, chose to offer the cholesterol and blood pressure reducing products based on its experience in the two countries and will receive non-exclusive distribution rights for both markets.

Per Rehné, commercial director of OptiBiotix, said: "We are pleased to announce this agreement which extends the sales channel of our CholBiome products into Russia and Kazakhstan where cardiovascular disease are the leading cause of morbidity and mortality. "

According to the World Health Organisation, cardiovascular disease accounts for up to 56% of all deaths in Russia and Kazakhstan and Euromonitor estimates that the Russian probiotics market is worth €340m with annual growth of 10%.

"We chose SilvExpo for its knowledge and speed to market and they have shown the ability to grow product sales in challenging markets. This agreement is a strategic step to build the distribution sales channel for CholBiome products in Eastern Europe and we anticipate that the agreement could produce revenues quickly," said Rehné.

OptiBiotix Health’s shares were up 3.19% at 97.00p at 0906 GMT.