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OptiBiotix Health said subsidiary ProBiotix Health had signed a license agreement with Biovagen Healthcare for the commercialisation of its cholesterol management products in Vietnam.
The agreement granted Biovagen exclusive rights to market both products in Vietnam for an initial period of three year, with Biovagen covering the costs of registering the products with local health authorities.
Market exclusivity was linked to minimum sales orders with half the minimum quantity for the first year required within six months of signing this agreement to maximise the financial return for both parties.