As a result, the product now has approval in eight major markets around the world—along with Malaysia, the U.S., Mexico, New Zealand, Taiwan, Thailand, Australia and the Philippines.
In Malaysia, the type of feed with the greatest demand is for poultry broilers and layers. For instance, last year an estimated 4.8 million metric tons of feed were produced there. This trend is being driven by the increasing popularity of chicken-based fast food restaurants, such as KFC, Nando's, The Chicken Rice Shop, Kenny Rogers Roasters and Ayamas.
In addition, the Malaysian government's goal is to produce antibiotic-free chicken in 2020. "The approval of OxC-beta for livestock ideally positions Avivagen to capitalize on an expected increased market for safe and effective antibiotic alternatives that will be needed to meet production demands under this countrywide mandate," the release highlighted.
"We are very excited to secure approval for the use of OxC-beta Livestock in the fast-growing Malaysian market, where the planned move to antibiotic-free chicken production in 2020 presents us with an immediate opportunity for growth," said Kym Anthony, CEO of Avivagen. "2019 has seen Avivagen secure key regulatory approvals in new markets and sign new distribution deals for OxC-Beta Livestock, laying important groundwork that we are confident sets the stage for positive momentum and sales growth in 2020 and beyond."
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: Avivagen. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Avivagen. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Avivagen, a company mentioned in this article.