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news.Axxess Pharma, a US-based provider of nutritional supplements and over-the-counter (OTC) remedies, has signed a long-term manufacturing, marketing and distribution agreement with 8E6Tong Private Company (Tong), a Singapore-registered company.
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Tong, which is focused on the production, marketing and distribution of health sciences products, has a manufacturing facility located in Tongxiang, China.
As part of the deal, Tong will be launching its own brand of products using Axxess’ patented formula and they sold online, world-wide and in select retail outlets.
Axxess projects minimum sales of $525,000 in the first year and $4,308,000 in the initial five year term of the license.
Axxess Pharma president Dr Daniel Bagi said: "This deal represents a major milestone for Axxess Pharma, and validates the value of our Intellectual Property. Revenues are expected to begin in the third quarter 2015 and accelerate year over year."
Axxess aims to bring additional products to the market and provide new options for better health spanning areas such as high cholesterol, blood pressure, acute pain to optimal health management through improved nutritional supplements.