Opko Health Inc (OPK)

[stockforce]

NextPlat's Florida E-Commerce Development Program to Launch the Online Sales of OPKO Healthcare Products in China on Alibaba's Tmall Global

https://ir.nextplat.com/news-events/press-releases/detail/108/nextplats-florida-e-commerce-development-program-to-launch

OCTOBER 12, 2023 10:50AM EDT
Download as PDF
New E-Commerce Agreement Enables NextPlat to Offer OPKO's Nutraceutical and Veterinary Products for Sale to Chinese Consumers

COCONUT GROVE and MIAMI, FL / ACCESSWIRE / October 12, 2023 / NextPlat Corp (NASDAQ:NXPL)(NASDAQ:NXPLW) ("NextPlat" or the "Company"), a global e-commerce provider, today announced that through a new e-commerce distribution agreement, it will enable the online sales of OPKO Health Europe, a subsidiary of OPKO Health, Inc. (NASDAQ: OPK) products in China. Under the terms of the agreement, NextPlat will launch a OPKO Health-branded online storefront on Alibaba Group Holding Limited's (BABA) ("Alibaba") Tmall Global e-commerce platform in China featuring an assortment of nutraceutical and veterinary products sold and distributed by OPKO Europe.

OPKO is a global diversified diagnostic and pharmaceutical healthcare company with over 5,500 employees spanning nine countries. The distribution agreement with OPKO's European division represents the first relationship resulting from the Company's Florida E-commerce Development program which includes a merchant sourcing agreement with Alibaba's Tmall Global designed to provide American businesses with easy access to the Chinese consumer market.

"NextPlat's focus is to enable companies across an array of high-growth sectors such as healthcare and consumer products, to capitalize on the vast opportunities of global e-commerce. Having already successfully built a sizable portfolio of products for human and animal health, we believe OPKO Europe is an ideal customer for our new e-commerce development program. By leveraging our online expertise, capabilities, and our expanded relationship with Alibaba, we can uniquely provide OPKO Europe with a reliable and efficient way to quickly begin selling its products online to potentially millions of new consumers in China," said Charles M. Fernandez, Executive Chairman and CEO of NextPlat.

The sales of OPKO products in China will be managed through NextPlat and will be made available to purchase for Chinese consumers through Tmall Global. Tmall Global is China's leading import e-commerce platform where consumers can access over 46,000 international brands. Subject to obtaining all necessary certifications and approvals, initial sales are expected to commence late in the fourth quarter of 2023.

NextPlat's e-commerce development program, held in coordination with local Florida chambers of commerce, initially aims to help Florida-based businesses and manufacturers market and sell their products to potentially millions of new customers. The development program features NextPlat's turnkey global e-commerce solution and leverages the capabilities and reach of key partners including Alibaba and its Tmall Global platform, a premier B2C cross-border solution for global brands to reach Chinese consumers. NextPlat intends to expand this unique e-commerce development opportunity to businesses throughout the United States, North America as well as in Central and South America.