Jaguar Animal Health (JAGX) Enters Exclusive Croton Lechleri Botanical Extract Distribution Agreement
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Jaguar Animal Health, Inc. (Nasdaq: JAGX) announced that it has signed an exclusive supply and distribution agreement (the “Agreement”) for Croton lechleri botanical extract (the “botanical extract”) with Fresno, California-based Integrated Animal Nutrition and Health Inc. for dairy cattle and pigs in the Chinese marketplace.
The Agreement was executed following the positive results, which Jaguar announced this past July, of two studies to evaluate the safety and effectiveness of the botanical extract in piglets. The terms of the Agreement specify annual minimum purchase amounts that are required to maintain exclusivity, and state that Integrated Animal Nutrition and Health Inc. is responsible for all activities and costs to obtain all required product registrations, marketing authorizations, and customs clearances for the Chinese market.
The piglet studies were sponsored by Integrated Animal Nutrition and Health Inc., involved more than 1,000 animals, and took place earlier this year at pig farms in China. The results indicate resolution and cure rates ranging from 60-99%, and a benefit on prophylaxis of diarrhea.
“We have seen great interest in Jaguar’s Croton lechleri botanical extract in China and believe that the market potential for the product is substantial,” commented Dr. Kai Hang Chen, founder and CEO of Integrated Animal Nutrition and Health Inc.
Lisa Conte, Jaguar’s president and CEO, stated, “We are very happy about the exclusive supply and distribution agreement we’ve entered into with Integrated Animal Nutrition and Health Inc., and about the opportunity to leverage our first-in-class technology in this very important Chinese market. As we work to expand our commercialization efforts, we intend to seek out additional opportunities to enter key international markets.”
According to the Minnesota-based Institute for Agriculture and Trade Policy, swine production was expected to reach 723 million head in 2014 in China, where pork is still the main protein source for many consumers. In 2015 there were an estimated 15.6 million dairy cattle in China, according to Index Muni. China, with the world’s largest population, has been experiencing an increase in demand for dairy products as a result of sharply increasing income levels, fast-changing food habits, the desire of parents to feed their babies high-protein formula, and the loosening in 2015 of China’s longstanding one-child policy, among other factors.
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