Consumer Discretionary

Biome scores distribution agreement with Priceline pharmacies

Mon 30 May 22, 12:03pm (AEST)
Wikimedia Commons
Source: Wikimedia Commons

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Key Points

  • Biome has executed a distribution agreement with Priceline Pharmacies
  • Move reflects a 50% growth in Biome’s distribution since listing in December 2021; 20% growth since March 2022
  • Priceline Pharmacies recently picked up by Wesfarmers

Biome Australia (ASX:BIO) has jumped 10% today as the company announces it will make its microbiome health products available in Australia at Priceline Pharmacy stores, following the execution of a distribution agreement with the Australian Pharmaceutical Industries' (ASX: API) group partner. 

Biome's 'Activated Probiotics' products will be shipped to 370 pharmacies throughout Australia; reflecting distribution growth of 50% since the company first listed in late November last year. 

Priceline, the company notes, is one of the largest health retailers in Australia, recently picked up by Wesfarmers and backed by the API. 

Biome's probiotics products will hit Priceline shelves in between June and July this year, allowing the company to start counting its revenue, more or less, at the start of the 2023 financial year. 

(Source: Biome Australia) The look of Biome's probiotics product design
(Source: Biome Australia) The look of Biome's probiotics product design

Priceline to announce partnership at event 

The new partnership will be launched, Biome notes, at Priceline's "inaugural Health Masterclass education series commencing on 20 June." 

The company highlights the 50% growth in distribution now effectively reflects some 3,000 distribution points in Australia; since the end of March, distribution growth reflects 20%. 

Priceline management noted Biome's products conform to growing demand in Australia for health products backed by scientific research. 

Biome management, meanwhile, highlighted the distribution agreement's support of Biome's overhead growth strategy. 

The company was first formed in 2018 and its Activated Probiotics product range serves as the company's flagship retail offering. 

Biome's last three months compared to the healthcare index
Biome's last three months compared to the healthcare index

 

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

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