Advitech Announces an Agreement with MaxiHealthcare for the Distribution of Dermylex in Indonesia
13 April 2007
Advitech Inc. (TSX-V: AVI) today announced that it has reached an agreement in principle with Maxi HealthCare Indonesia, ('Maxi HealthCare'), setting forth the proposed scope of a marketing and distribution agreement for Dermylex™.
Located in Jakarta, Indonesia, Maxi HealthCare is a corporation that markets nutraceutical and pharmaceutical products focusing on dermatological applications in Indonesia. This agreement concerns the Indonesian market, Indonesia being the fourth most populated country in the world with a population of 210 million.
Maxi HealthCare has agreed to pay an undisclosed amount as of April 2007 to secure its exclusivity in the negotiation process finalizing a marketing and distribution contract. Under the contract Maxi HealthCare will receive from Advitech the exclusive rights for Indonesia to market Dermylex Advitech's clinically proven bioactive ingredient for the treatment of mild to moderate psoriasis. This five-year contract will provide minimum purchase requirements to be met by Maxi HealthCare. Other terms and conditions of the agreement were not disclosed.
Commenting on the news, Mr Renaud Beauchesne, CEO of Advitech, said: "We are very pleased with this agreement because it provides Advitech with its third partnership in Asia. New market reports on psoriasis are showing an increasing incidence of the disease in these countries".
Mrs Boya Arsila Sunarjo MBA, general manager of Maxi HealthCare, added: "We are seeking to build on this partnership with Advitech and, as our sales force covers 90% of the 500 dermatologists practicing in Indonesia, we are confident that we shall create the demand and the right network for Dermylex"
