Three-Year Million Dollar Contract with Leading Pharma
Sydney, Sep 9, 2016 AEST (ABN Newswire) - Brand Protection and Customer Engagement solutions company YPB Group Limited (
ASX:YPB) has signed a three-year agreement with leading Indonesian pharmaceutical and wellness company Combiphar for the supply of Brand Protection solutions in Asia.
- YPB to provide Brand Protection to Combiphar using the YPB CONNECT platform - expected to be implemented initially across tens of millions of products annually
- Expected revenue of approx. A$1m over the term of the three-year agreement
- Combiphar is a leading supplier of prescription and over-the-counter pharmaceuticals with around 170 product lines
YPB expects the three-year agreement to generate revenues of approximately A$1 million, with YPB technology to be applied to tens of millions of Combiphar products per annum over three of its 170 product lines.
YPB's CONNECT platform will allow Combiphar's customers to use a smartphone to verify the authenticity of products at the time and place of purchase.
Importantly, the YPB CONNECT platform will drive far greater Customer Engagement for Combiphar by directly connecting the company to healthcare professionals and customers online. This will allow Combiphar to keep customers abreast of an array of information such as correct product use, complementary product lines, new product releases, product promotions, health news and industry and product developments. Doing so will enhance its status as a trusted health advisor thereby growing the reputation of and loyalty to its brand.
Founded in West Java in 1971 Combiphar produces more than 170 products lines across the prescription and over-the-counter sectors including OBH Combi cough syrup, Insto eye-care solution and JointFit gel-based relief for joints. Additionally it acts as a contract manufacturer for global pharma giants including GlaxoSmithKline (GSK), Sanofi and Abbott, and has obtained Therapeutic Goods Administration (TGA) certification to allow the export of certain products to Australia.
YPB expects increased demand across Asia for Brand Protection, as a growing number of consumers actively voice concerns over authenticity. There has been recent widespread coverage regarding counterfeit pharmaceuticals and vaccines across Asia, with one major Jakarta hospital revealing it has been receiving fake vaccines for the past ten years.
YPB Executive Chairman Mr. John Houston said: "We are delighted that our first customer in Indonesia is a company of Combiphar's calibre. This multi-year contract is YPB's second in the vitally important pharmaceutical market having signed Australian exporter Universal Pharmaceuticals in early July 2016.
For companies such as Combiphar and Universal Pharmaceuticals, product and supply chain integrity is vital to protecting and growing the trust healthcare professionals and customers have in their brands.
Our PROTECT and CONNECT technologies are powerful tools for increasing brand trust, developing brand loyalty, growing sales and therefore enhancing brand value."
About YPB Group Ltd
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