AB-Biotics has signed an agreement with HanAll BioPharma to distribute its cholesterol-lowering probiotic in Korea. The deal will give the Korean company a 10-year licence to exclusively distribute the AB-Life probiotic across the country.
The Spanish company claims its product will reduce total cholesterol levels by between 14% and 18%. AB-Life will be released in the next six months on the Korean market, where the prevalence of hypercholesterolemia is estimated to be 8.9% in men and 10.4% in women, according to a study by the Korea Medical Insurance Corporation.
"Korea opens the Asian door for our international expansion. Thanks to HanAll BioPharma, we can enter with a local and very well positioned partnership”, said Miquel Angel Bonachera, co-founder and CEO of AB-Biotics.
HanAll has had nearly 40 years in the market and is listed on the Korean Stock Exchange. The company had a turnover over US$100 million dollars in 2010.
The deal with HanAll is the fifth international licence agreement signed by AB-Biotics so far this year. AB-Life already has agreements in Mexico, Venezuela and Brazil, while Aceto Corporation will distribute it in the United States and Canada.