- OpenDNA Limited has entered into a binding agreement with Petrus Pharmaceuticals to exclusively sell its products in China for an initial 12-month period
- Petrus Pharmaceuticals manufactures a wide range of over-the-counter (OTC) medicines in Australia
- OpenDNA is to receive commission on the sale of all products sold in China and Australia
OpenDNA Limited has entered into a deal with Petrus Pharmaceuticals to exclusively sell its products in China for an initial 12-month period.
Under this agreement, OpenDNA will be the sole distributor of Petrus Pharmaceuticals’ various products. These products include the Myadec multivitamin, paw ointment, Vita-D, Centavite and Hartley’s natural gripe water. These products are sold across 5,000 pharmacies in Australia and are also available in GPs and hospitals.
“The China market presents a huge opportunity for Petrus Pharmaceuticals and we are delighted to be their partner to market and sell their high-quality Vitamins, Minerals, Supplements (VMS) and Health & Wellbeing products,” OpenDNA Managing Director Bryan Carr, said.
OpenDNA is an e-commerce artificial intelligence marketing company which focuses on driving online sales of products and services for its clients. Its current focus has been on driving sales in Australia and China with the help of its Roolife online marketplace.
In February 2019, OpenDNA teamed up with health and wellness company Better Nature to drive sales to Chinese consumers. The company has recognised the large and ‘rapidly growing consumer market in China’ and is taking advantage of that.
Petra Pharmaceuticals’ products are expected to be in high demand in China where annual sales of vitamins, minerals and supplements and other health products were US$30 billion in 2017. This figure is expected to grow by 10 per cent annually through to 2025.
First product sales are expected in the Q3 2019 and OpenDNA will receive commission on the sale of all products sold in China and Australia.