The two agreements will give the active ingredients supplier access to India, Argentina, Paraguay and Uruguay
Active ingredients supplier Vytrus Biotech has signed two separate distribution agreements to expand its network by four more countries.
The company, which specialises in plant stem cell technology, has partnered with Nano Tech Chemical Brothers, to move into the Indian territory.
Vytrus believes India represents a great business opportunity for the company, assuming access to a market of nearly €12bn in 2018 according to ICEX Spain Export and Investments, with a forecast growth of 10% per year.
“The Indian agreement means we have access to one of the emerging economies in the world with the most potential.
“The Indian market is opening up to new concepts and a technology like Vytrus' fits in due to its sustainability and its approach based on plant-origin actives,” says Daniel Robustillo, Business Manager of Vytrus.
Meanwhile, the Kannabia Sense and Deobiome Noni maker has closed an agreement with Grupo Blumos for the distribution of the product pipeline in Argentina, Paraguay and Uruguay.
According to Robustillo: “Argentina is a relevant cosmetic market to consider and is aligned with the profile that Vytrus seeks for the international expansion of its pipeline, in addition to opening potential opportunities for the pharmaceutical market in the future.”
With these new deals, Vytrus now has a presence in more than 54 countries globally.