- Three-year forensic services contract signed
- Customer is one of the world's top ten pharmaceutical companies
- Contract effective from December 2016
The agreement engages YPB's PROTECT offering, focused primarily on forensic laboratory services and IP solution design and implementation from YPB's Bangkok, Thailand regional hub, and will be available to the customer for its global operations.
The customer is a global pharmaceutical group headquartered and listed in USA with annual turnover of approximately US$40 billion. The three-year contract has guaranteed revenue to YPB of approximately US$300,000. Further details on the focus area, scope of the contract and the customer cannot be provided due to confidentiality reasons and the sensitive nature of the engagement.
Pharmaceutical companies are global targets for counterfeiters, with a recent report by Havoscope entitled 'Ranking of Counterfeit Goods by Losses' highlighting the global trade in counterfeit drugs has reached US$200 billion.
YPB Executive Chairman John Houston said: "This contract is strong validation from a top tier global pharmaceutical company of YPB's capability and product offerings, and we are proud to offer this new customer the ability to PROTECT against the scourge of counterfeit. We expect this initial engagement to lead to expanded opportunities with this customer and within the wider pharmaceutical sector."
About YPB Group Ltd
YPB Group Ltd (ASX:YPB) is a pioneer in advanced brand protection solutions. Listed on the Australian Securities Exchange, YPB is expanding its global footprint with an established presence in Australia, China, Thailand, USA, Mexico, India and Pakistan.
YPB's patented Anti-Counterfeit technology combined with its Security Packaging and Anti-Theft solutions, Consulting Services and YPB's proprietary CONNECT platform enables clients to PROTECT their high value brands from the risks of counterfeit, product diversion and theft while providing the tools to CONNECT directly with their customers.
YPB Group Ltd