26 Nov 2010 07:00
Omega Diagnostics Group PLC
("Omega")
Distribution Agreement for Food Detective™ in India
Omega, a leading producer of diagnostic testing kits for Food Intolerance announces that its subsidiary, Cambridge Nutritional Sciences Limited, has signed an exclusive distribution agreement with existing marketing partner Thermo Fisher Scientific India Pvt. Ltd. (TFSI) covering the sale and distribution of its Food Detective™ product into the Indian market. The product has recently been approved by the Indian authorities therefore marketing and sale of the product will commence immediately.
Mr Andrew Shepherd, CEO of Omega, said: "We're very pleased to announce this deal with TFSI for distribution of Food Detective™ in India which expands our successful business relationship in this strategic market for the company. The product is now being used in over 50 countries and sales for the six months ending 30 September 2010 were £369,000. The Indian Agreement is expected to lead to additional sales of approximately £300,000 over the next three years. This product is well accepted as being a reliable test for those people suffering from the effects of food intolerance. This cost effective test has great potential in the Indian market which will provide a rapid means for more people to realise if their chronic symptoms are food related."
Commenting on the distribution agreement, Mr Girish Mehta, Director of TFSI said: "Food Detective™ is a unique product which will address the long unmet demand of identifying food intolerance amongst Indians. This product has been customised for the Indian food diet and has been priced affordably to reach a large population. Thermo Fisher Scientific India with its well-trained and experienced technical and sales teams is well positioned to market Food Detective™ in India and we hope that it will be a big success."
Omega Diagnostics Group PLC | Tel: 01259 763 030 |
Andrew Shepherd, Chief Executive | |
Kieron Harbinson, Group Finance Director | www.omegadiagnostics.com |
Cenkos Securities plc | Tel: 020 7397 8900 |
Ian Soanes Elizabeth Bowman | |
Walbrook PR Limited | Tel: 020 7933 8787 |
Paul McManus | Mob: 07980 541 893 |
| paul.mcmanus@walbrookpr.com |
Paul Cornelius | Tel: 020 7933 8794 |
| Mob: 07866 384 707 |
| paul.cornelius@walbrookir.com |
Information on Omega Diagnostics Group PLC:
Omega sells 86% of production (by turnover) through a network of distributors in over 100 countries. The largest distributor by sales value in the year ending 31 March 2010 was TFSI accounting for approximately 8% of Omega's sales in that financial year.
Information on Thermo Fisher Scientific India Pvt. Ltd. /Thermo Fisher Scientific (TFS):
Thermo Fisher Scientific India (TFSI) is the wholly owned subsidiary of Thermo Fisher Scientific USA (TFS) and is a USD 150 million sales organization. TFS is the world wide leader in serving science and offers one-stop-shop solutions to scientific laboratories associated with research, academia, industry, diagnostic testing, quality control, quality assurance etc. TFSI employs over 650 highly qualified and trained personnel to serve the needs of the Indian market and currently offers a wide range of products ranging from state-of-the-art scientific instruments to the smallest of laboratory consumables.