http://www.copyright link/business/...is-sandalwood-oil-supply-deal-20170509-gw0p1z
Quintis appears to have lost another commercial buyer, with Swiss dermatology giant Galderma discontinuing a formula used in the Benzac skincare range that contained Quintis' pharmaceutical-grade sandalwood oil.Galderma, which is owned by Nestle Skin Health, would be the second major customer to slip away after the former TFS revealed in March that its biggest buyer in China, Shanghai Richer Link, had not placed an order this year. Quintis is in advanced talks with another significant buyer in China that it hopes to secure a timber supply contract with.At its inception, the Galderma deal was billed as a "landmark" development.As recently as March, Quintis outlined that it had a 20-year Indian sandalwood oil supply contract with Galderma signed in 2014 at the equivalent of $US4500 a kilogram and escalating with inflation. But that contract had no fixed annual supply component attached.
A Lausanne-based spokesman for Nestle Skin Health said via email: "I can confirm that these specific sandalwood oil Benzac formulations were discontinued, and the licence with the Australian supplier was terminated."
Nice of the company to tell us!! Or potentially criminal lack of disclosure? Delete as applicable.
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