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Medlab Clinical converts HoA into commercial agreement for US expansion

First revenues from the commercial agreements are expected in early 2020.

Medlab Clinical Ltd - Medlab Clinical converts HoA into commercial agreement for US expansion
The US dietary supplements market was valued at US$124.8 billion in 2018 with a CAGR of 6.4%

Medlab Clinical Ltd (ASX:MDC) has converted its previously signed heads of agreement (HoA) into a definitive commercial agreement to expand its nutraceutical business into the US.

The agreement was executed with American Nutritional Corp Inc (ANC), a US entity with audited and approved manufacturing capabilities for several large, institutional US brands.

The deal will see Medlab products enter both the medical and consumer markets through healthcare practitioners, pharmacies and health food stores.

Secondary to this, the agreement also provides a significant opportunity to expand the relationship with ANC and capitalise on their manufacturing capabilities.

Deal confirms potential for expansion

Medlab’s CEO Dr Sean Hall said: “This agreement provides a great opportunity to expand the commercialisation opportunities for Medlab into such a large market like the USA.

“Having access to clients of this calibre and being able to tap into their supply chains is very exciting and is a further example of the appeal of our patents research and strong clinical capabilities.”

The official launch of the 1st Brand will occur at a major US medical conference, the 27th Annual World Congress, in December.

In addition to the US, Medlab intends to consider other countries and areas to expand to.

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