Norwegian biotechnology company Hofseth BioCare (HBC) has signed an exclusive distribution deal with Swiss group DKSH, also known as DiethelmKellerSiberHegner, to sell its marine branded products across Asia.
The pan-Asian agreement covers 10 territories across Asia including Thailand, Indonesia, Philippines, Malaysia, Vietnam, China, Japan, Korea, Taiwan and India.
As part of the deal, DKSH will also have the right to sell "white labelled" finished products across the territories on a non-exclusive basis.
This distribution agreement now provides HBC with global access for the delivery of its nutritional and nutraceutical grade products.
DKSH is primarily involved in the market expansion, marketing and distribution of human and pharma grade raw materials through extensive local networks, market intelligence and formulation expertise.
The distribution contract with DKSH follows the recent granting of a unique set of label claims for HBC’s ProGo product in North America, centered around the prevention of iron deficiency anemia.
HBC is now represented globally across all continents for B2B distribution.
Hofseth BioCare posted a loss in its third quarter earnings, falling even deeper into the red due to lower production volumes, increased investments and higher salaries.
The group reported a loss of NOK 23.2 million (€2 million/$2.4 million) particularly due to "higher-than-expected" investments in research and development (R&D) projects.
