Nutriband has signed an exclusive 20-year, $90 million distribution agreement for its transdermal consumer product lines with Best Choice.
Nutriband's transdermal solutions cover a growing number of consumer health and wellness needs, offering several benefits, including more consistent symptom control, enhanced convenience, increased tolerability, and the potential for fewer side effects. The company's transdermal consumer product lines will provide innovative delivery alternatives for a variety of popular health supplements, a market estimated to reach $278 billion by 2024.
Under the terms of the agreement, Best Choice will purchase a minimum of $2 million of Nutriband's transdermal consumer products in year one, growing its annual minimum order value to $90 million by the end of year 20. The first order under the agreement was received on May 4 with the Company receiving $50,000 with a remaining $30,000 due upon delivery.
The distribution agreement covers all of Nutriband consumer grade transdermal products, most notably Nutriband's energy patch and vitamin patch, and excludes all current and future medical, OTC, prescription, or diagnostic products. Other products to be launched under the agreement include the following:
- Amino Acid Patch
- Slimline Patch
- Collagen Wrinkle Patch
- Children's Vitamin Patch
- Natural Mosquito Repellant Patch
- PMS Patch
- Sleep Patch
- Nausea and Motion Sickness Natural Patch
- Glucosamine Patch
- Detox Patch
The agreement provides Best Choice exclusivity for the territories of South Korea, Taiwan, the South Asia Countries, and the Peoples Republic of China. Exclusivity will only remain in place so long as order minimums and 10% year-over-year growth targets are met.