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Be the first with the news that moves the market- Avivagen (TSXV:VIV) has received its largest order for the OxC-beta Livestock product yet
- The order came from UNAHCO, the company’s long-standing partner in the Philippines
- The three-tonne order is a 50 per cent increase on UNAHCO’s previous order
- The order comes as COVID-19 puts enormous stress on worldwide food production and demand
- Avivagen’s (VIV) share price closed yesterday at C$0.60 per share
Life sciences company Avivagen (TSXV:VIV) has reported its largest order for the OxC-beta Livestock product to date.
The company’s OxC-beta Livestock is an antibiotic alternative compound, which is used in feeds for livestock.
The record-breaking order came from UNAHCO, Avivagen’s long-standing partner in the Philippines.
UNAHCO’s latest order was for three tonnes, a 50 per cent increase from its previous order. This brings UNAHCO’s total orders for OxC-beta Livestock to over 18 tonnes.
Avivagen’s CEO, Kym Anthony, said that UNAHCO’s demand for the product has grown significantly since its first purchase. The company’s first purchase in November 2016 was for 150 kilograms of OxC-beta Livestock, for use in swine feed.
“The steady growth in UNAHCO’s use of OxC-beta reflects increased adoption across the company’s line of swine feed, combined with expanded applications in the company’s various premixes, which today includes use in both broilers and sows,” he said.
The relationship with UNAHCO has served as a tried and tested model for Avivagen and its other OxC-beta Livestock customers. Avivagen allows its clients to make small initial product orders, which eventually leads to greater and more regular demand.
The company has recently secured approvals and new orders in Malaysia, Mexico, Thailand and Taiwan. Avivagen also expects to gain approval in the Brazilian market in the near future.
This new large order comes as COVID-19 is putting enormous stress on worldwide food production and demand. As that demand extends to swine, dairy, and poultry farmers, Avivagen may expect more large orders like this one soon.
Avivagen’s (VIV) share price closed yesterday at C$0.60 per share.
