OptiBiotix to launch new range with India partner
By Josh White
Date: Tuesday 03 Dec 2024
(Sharecast News) - OptiBiotix Health announced the upcoming launch of 'SlimBiome'-containing products in India under Dr Morepen's new 'LightLife' brand on Tuesday.
The AIM-traded firm said the launch, supported by a £1.5m marketing campaign, aimed to establish LightLife as India's first comprehensive weight management solution, addressing a growing obesity crisis in the country.
Dr Morepen, a subsidiary of the listed pharmaceutical company Morepen Laboratories, would introduce five SlimBiome variants in sachets and a meal replacement product, with additional offerings planned throughout 2025.
The launch would leverage Morepen's network of over 200,000 pharmacies and online platforms, ensuring wide accessibility.
OptiBiotix said the brand would also include personalised nutrition plans, fitness and dietary counseling, and a dedicated app to support consumers in their weight loss journey.
The joint investment would support a significant marketing effort involving influencers, public relations and digital campaigns in a bid to rapidly gain market share.
Within the first year, the products were expected to be available in more than 5,000 pharmacies across major Indian cities.
OptiBiotix described obesity as a pressing issue in India, with 23% of men and 24% of women classified as overweight or obese, according to the National Family Health Survey.
The LightLife brand was aiming to address that in a market estimated at 197 million adults/
Revenue would be driven by the sale of SlimBiome raw materials and finished products, with production managed by contract manufacturer KAG Industries and distribution handled by Morepen.
"Morepen is an established, well known, and trusted brand and this launch represents a material step forward for the company's products in the Indian market," said chief executive officer Stephen O'Hara.
"This initial launch will involve six products with subsequent launches at the start of 2025.
"Based on Morepen's current forecasts, this agreement could contribute in the region of £6m to £7m revenue per annum to OptiBiotix in the next four to five years."
O'Hara said the partnership had the potential to "make a significant financial impact" to the company.
"We are very excited to announce the upcoming launch and look forward to seeing the progress following the investments Morepen has made in marketing, product development and in supporting customers to reach their weight management goals.
"We are pleased to be part of such an innovative approach which sets a new benchmark for the weight management industry."
At 1136 GMT, shares in OptiBiotix Health were up 3.42% at 17.32p.
Reporting by Josh White for Sharecast.com.
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