bonyf accelerates its export dynamics signing two new commercial contracts in Southeast Asia
Ghent (Belgium), 15 June 2022, 08.00am; bonyf NV (Mnemonic: MLBON), the next generation oral comfort expert, announces further geographic expansion with the signing of two major contracts in the Philippines and Malaysia.
bonyf is expanding its customer base in the Philippines with the finalization of a new contract with Suhitas Pharmaceuticals Inc ("Suhitas"). Suhitas is a leading importer and distributor of healthcare products in the Philippines through strategic partnerships with leading pharmaceutical, healthcare and biotechnology companies. Suhitas distributes more than 200 products in the Philippines, to a customer base of more than 100 million.
Suhitas will market bonyf's superior adhesive cream under its own brand and will invest heavily in product advertising to promote a long-term relationship not only with bonyf, but also with its existing partners. The commercial contract has the potential to extend to bonyf's star product, OlivaFix® Gold Denture Adhesive Cream containing 30% organic oil. This commercial contract is an important step for bonyf to expand its customer base in the Asia-Pacific region.
Executive Director of Suhitas, Mr. Hitesh Sharma, stated Suhitas has had positive experiences with European companies and his desire for a long-term relationship with bonyf.
bonyf expands its penetration in Malaysia with the signing of a contract with Quantum Upstream Sdn Bhd ("Quantum"), a wholly owned subsidiary of the Big Pharmacy Group. According to Quantum’s CEO, Mr Meng Chuan Lee, the Group has a turnover of €200 million. Quantum is one of the fastest growing pharmaceutical distribution groups in Malaysia with an expected growth of over 30% by 2022.
Malaysia has a population of 33 million. The country is experiencing a strong increase in healthcare spending which accelerated by 9.6% in 2021 to €13.4 billion, surpassing the 6.9% growth rate in 2020. According to Fitch Solutions analysts, it could grow at a 5-year compound annual growth rate of 7.6% to €19.4 billion by 2025.
Quantum has extended their product line by adding the following bonyf products to its range: OlivaFix® Gold Denture Adhesive Cream, Express Effervescent Cleansing Tablets and NitrAdine® Effervescent Disinfecting Denture Tablets. Quantum highlighted the positive customer feedback on these products, as well as the vaseline-free formulation of the OlivaFix® Gold denture adhesive cream containing organic olive oil.
With these two new commercial partnerships providing access to two high-potential markets, bonyf is accelerating its commercial penetration/infiltration of the export market. These fast-growing markets are real growth drivers for bonyf and should contribute a significant share of the group's overall future sales.
Incorporated in 1979, bonyf specialises in the development, production and selling of cutting-edge oral & dental care products. Through its unwavering commitment to innovation and continuous improvement, bonyf makes a real difference to people suffering from dental and oral conditions. The Company has its R&D facilities in Liechtenstein (in the renown dental valley), a production plant in Switzerland and distributes its product range in 36 countries worldwide. Benefiting from seven patent protected formulations and products developed in-house, bonyf expects strong future development, driven by the fast-growing oral and dental care market.
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