NEWS: Plandai Biotechnology, Inc. Announces Distribution Agreement With Bal Pharma Ltd Covering India
LONDON, UNITED KINGDOM--(Marketwired - Oct 27, 2015) - Plandaí Biotechnology, Inc. ("Plandaí" or "the Company") (OTCQB: PLPL), producer of the highly bioavailable Phytofare®, today announced that it has executed an Exclusive Distribution Agreement with Bal Pharma Ltd., an India-based manufacturer and exporter of pharmaceutical finished formulation/bulk drugs and distributor of nutraceuticals ingredients (www.balpharma.com). Under the terms of the agreement, Bal Pharma will use the Company's Phytofare® in their finished formulation products while also distributing Phytofare® as an active ingredient throughout India. The two-year renewable agreement gives Bal Pharma exclusivity for their territory and fixed pricing based on volume in exchange for defined annual off take.
Callum Cottrell-Duffield, Vice President of Sales for Plandaí, commented, "Bal Pharma is one of the leading pharmaceutical companies operating in both the Indian and International market and we're excited to partner with them to bring Phytofare® to the region. With their proven track record as the manufacturer, exporter and distributor of pharmaceutical finished formulation/bulk drugs, Bal Pharma should quickly be able to generate substantial market penetration for Plandaí. Our agreement with such a highly-regarded Indian company further validates the fifteen years of research that has gone into bringing Phytofare® to market and the solid science behind our phyto-available products."
Shailesh D. Siroya, Managing Director of Bal Pharma, added, "Phytofare®, with its proven increased bioavailability and pharmaceutical quality, is an ideal fit with Bal Pharma's current product mix. We've been involved with Plandaí monitoring their progress and clinical trials, and are pleased that they are now positioned to become a valued supplier as we work together towards our mutual goal of providing a better and healthier lifestyle through quality products and innovation."
