ASX biotech printing a 52-week high

ASX biotech printing a 52-week high

The share price of Medlab Clinical Limited rose 7.7 percent to a 52-week increase of 0.56 dollar in early Monday trade.

The trading weeks’ strong start occurred after the company of medical life sciences company that it had accomplished a Heads of Agreement with the American Nutritional Corp Inc (ANC) for rapidly expanding their nutraceutical business based in the United States.

Medlab has announced only this morning that it had signed a Heads of Agreement with the ANC for entering the market of U.S. with its already existing range of the nutraceutical products. ANC was a company that was based in the U.S. having audited as well as approved capabilities of manufacturing many large institutional brands of the United States.

Several of the current, as well as unique range of the Medlab’s nutraceuticals, was well-positioned for the clients of ANC. In the near term, the products of Medlab were also expected to jump into the medical as well as consumer markets along with the larger companies which had established branding and also distribution. While the Medlab would still be featuring on the label of the products, their aim shall be to rebrand them for suiting the general branding strategy of the client.

Partners of Commercial terms, as well as specific distribution, were still to be finalized through the execution of an agreement of definitive commercial. At this level, the management is expecting the first launch of its products in the United States for occurring in or around the month of December 2019.