Dx&Vx Signs $2.2 Million Contract to Export Microbiome Products to the EU
Expecting to reach the $8 million export target this year
“Aiming to become Asia’s No. 1 healthcare company”
Dx&Vx (DXVX) has begun exporting its products under its microbiome brand in full swing, which is expected to drive the company’s growth.
Dx&Vx announced on September 25 that it had signed a $2.2 million contract to export its microbiome-based healthcare products, including Ofmom Formula Mate, to the European Union (EU). The company is also currently in talks with new partners in China, Japan, Southeast Asia, and the Middle East to export its products.
Its subsidiary, Korea Biopharm, in particular has completed the Food Facility Registration (FFR) process with the US Food and Drug Administration (FDA) for its plant. With such accelerated efforts to expand into the global market, Dx&Vx is expected to achieve high growth in exports. The company, which had won the $3 million Export Tower on Trade Day last year, has already more than doubled its export volume, and is thus expected to win an export tower again this year.
Dx&Vx is currently poised to offer Dx&Vx and Ofmom products on online e-commerce platforms in major countries overseas. By the end of this year, it will launch Ofmom, a nutrition brand, on global e-commerce platforms such as Amazon in the United States, Rakuten and Amazon Japan in Japan, Tmall (Alibaba) and TikTok (Douyin) in China, and Shopee and Lazada in Southeast Asia, in addition to offering twelve products under the Dx&Vx brand developed and produced by COREE Italy, which is set to be launched in November, directly to global consumers in the form of business-to-customer (B2C) sales.
Armed with a research, development, production, and distribution value chain, Dx&Vx is capable of developing products rapidly in line with the healthcare market trends in the target countries. The company is also building a global online and offline sales and marketing organization and network, which gives them the competitive edge for global market development.
In addition, Dx&Vx is researching and developing microbiome-based new drugs and personalized healthcare products and materials in collaboration with COREE Italy’s AAT Research Institute through its microbiome research center. The company recently launched an antibiotic classified as a basic drug through its Chinese subsidiary to officially enter the Chinese mother and child healthcare market and is expanding its lineup and sales network for subsequent basic and best-in-class drugs. The company aims to become the No. 1 healthcare company in Asia by providing personalized healthcare solutions such as microbiome-based disease prevention and treatment services following a diagnosis.
“Considering the rate at which our company is securing a global sales network under the current circumstances of increased consumption of immunization products since the COVID-19 pandemic and the rising global consumer preference for K-healthcare products, we will likely achieve our export target of USD 8 million this year. We look forward achieving quantum growth by setting a more aggressive overseas sales target for 2024,” said an official from Dx&Vx.