Hyphens Pharma inks exclusive partnership with SUTL to distribute Ocean Health products
Hyphens Pharma International Limited (“凯帆药剂国际有限公司”, “Hyphens Pharma”, or the “Company”, and together with its subsidiaries, the “Group”), Singapore’s leading specialty pharmaceutical and consumer healthcare group, is pleased to announce that its subsidiary, Ocean Health Pte Ltd (“Ocean Health”), has signed a Distribution Agreement (“DA”) with SUTL Corporation (Hong Kong) Ltd (“SUTL HK”) to appoint SUTL HK as an exclusive distributor of Ocean Health® supplements. Under the DA, SUTL HK will be granted exclusive rights to distribute Ocean Health® supplement products in the Hong Kong Special Administrative Region (“HK SAR”), Macau and Duty-Free Channels in China.
Ocean Health is a leading home-grown health supplements company in Singapore, offering a wide range of high-quality products at affordable prices, and is best known for its no. 1 Omega-3 fish oil, Multivitamins and Joint-RX. Mr Lim See Wah, Chairman, Executive Director & Chief Executive Officer of Hyphens Pharma commented: “We are honoured to partner SUTL HK, a well-known and established corporation, to distribute Ocean Health® products. Through this partnership, we look forward to broadening and establishing a stronger brand awareness of Ocean Health® in Asia.” In HK SAR, the sales of vitamins and dietary supplements has also grown 2.7 per cent to US$722
million last year, despite a drop of 11 per cent in overall retail sales.
Mr Arthur Tay, Chairman and Chief Executive Officer of SUTL Global Pte Ltd also commented: “We are indeed excited about the partnership with Ocean Health for the exclusive distribution rights of healthcare products in HK SAR, Macau and Duty-Free Channels in China. This is especially timely and critical when we’re in the midst of a global pandemic where health safety is of primary concern and importance.”
There will not be a material effect on the net tangible assets or earnings per share of the Group for the financial year ending 31 December 2020.