Eagle eye on anti-fungals

AUSTRALIAN-LISTED but Chinafocused nutritional products company Eagle Health Holdings Limited (not related to Eagle Natural Health - PD 11 May) has announced it has signed a Term Sheet agreement with Biovite Australia to distribute Biovite’s dermatological range of anti-fungal products in China.

Biovite is a subsidiary of Australian dermatology company Xerion Limited, and Eagle Health has said it will distribute the antifungal products throughout the extensive foot spa industry in China under the company’s dedicated Australian sourcing brand, Ecological Valley.

Eagle Health has said it will be targeting approximately 200,000 foot spas in China.

The agreement is part of Eagle Health’s previously stated strategy to leverage “clean and green” Australian ingredients and brands into the China market through its extensive network of pharmacies and other retail outlets.

As part of the agreement with Xerion, Eagle Health has said it will have exclusivity over the foot spa channel with the ability to sell products via all channels apart from online distribution. “Under the agreement the estimated unit volume for the first year will be 250,000 units, worth approximately $1.5 million and rising to 800,000 units, worth approximately $4.8 million, from the fourth year onward,” Eagle Health ceo and md Zhang Mingwang said.