LONDON, UNITED KINGDOM - (NewMediaWire) - October 27, 2015 - Plandaí Biotechnology, Inc. ("Plandaí" or "the Company") (OTCQB: PLPL), producer of the highly bioavailable Phytofare®, today announced that it has executed an Exclusive Distribution Agreement with Bal Pharma Ltd., an India-based manufacturer and exporter of pharmaceutical finished formulation/bulk drugs and distributor of nutraceuticals ingredients (www.balpharma.com). Under the terms of the agreement, Bal Pharma will use the Company's Phytofare® in their finished formulation products while also distributing Phytofare® as an active ingredient throughout India. The two-year renewable agreement gives Bal Pharma exclusivity for their territory and fixed pricing based on volume in exchange for defined annual off take.
Callum Cottrell-Duffield, Vice President of Sales for Plandaí, commented, "Bal Pharma is one of the leading pharmaceutical companies operating in both the Indian and International market and we're excited to partner with them to bring Phytofare® to the region. With their proven track record as the manufacturer, exporter and distributor of pharmaceutical finished formulation/bulk drugs, Bal Pharma should quickly be able to generate substantial market penetration for Plandaí. Our agreement with such a highly-regarded Indian company further validates the fifteen years of research that has gone into bringing Phytofare® to market and the solid science behind our phyto-available products."
Shailesh D. Siroya, Managing Director of Bal Pharma, added, "Phytofare®, with its proven increased bioavailability and pharmaceutical quality, is an ideal fit with Bal Pharma's current product mix. We've been involved with Plandaí monitoring their progress and clinical trials, and are pleased that they are now positioned to become a valued supplier as we work together towards our mutual goal of providing a better and healthier lifestyle through quality products and innovation."
About Plandaí Biotechnology, Inc.
Plandaí Biotechnology, Inc. and its subsidiaries develop highly phyto-available™ extracts. Plandaí Biotechnology controls every aspect of the process, from growing the raw materials on its farms in South Africa, to producing its proprietary Phytofare® extracts in-house, allowing the Company to guarantee the continuity of supply as well as quality control throughout the entire process. Targeted industries for the Company's products include beverage, cosmeceutical, wellness, nutraceutical, anti-aging, and pharmaceutical. For more information, please visit http://www.plandaibiotech.com.
About Bal Pharma Ltd.
Bal Pharma is a fully integrated and leading Indian pharmaceutical company specializing in Prescription drugs, Generics, OTC Products, Intravenous infusion and Bulk Actives with 28 years of experience. They provide quality of life for patients by offering them products which are Safe, Effective, High Quality and Affordable. Bal Pharma's active pharmaceutical ingredients (API) and finished formulations are produced at world class manufacturing facilities and are exported to Japan, Australia, Spain, UK, Canada, Nigeria, Iceland, Slovenia, Romania, Argentina, Brazil, Pakistan, Germany, South Africa, Serbia, Taiwan, Malaysia, Thailand, Turkey, Egypt, Korea, Venezuela, Italy, Portugal, Morocco, Poland, Netherlands, Syria, Bangladesh, Africa and Indonesia. The latest facility at Rudrapur, Uttaranchal is defined to take finished formulations to highly regulated markets like US and Europe. With the successful operations in domestic and international markets, backed by its strength in Research and strong infrastructure, Bal Pharma is one of the fastest growing companies in the Indian Pharmaceutical Industry. For more information, please visit http://www.balpharma.com.
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