Breakthrough for Probi in U.S. mass retail and mass drug VMS market
Probi has signed one of its most signficant dietary supplement agreements to date with Pharmavite, a leader in the US vitamin, minerals and supplement market (VMS). Pharmavite will launch Probi’s gut health capsules containing Lp299v™ at the beginning of 2012 under the Nature Made®brand – the leading U.S brand in VMS. The agreement is expected to generate between 5 and 10 MSEK in net revenue for Probi in 2012.
“This is a major breakthrough for Probi in the U.S., as Pharmavite has an outstanding track-record and Nature Made®brand is the market leader in the U.S. food, drug, mass and club retail channels,” says Michael Oredsson, CEO of Probi.
Probi’s Lp299v™ capsules will be launched under the Nature Made®brand and will feature the active ingredient brand Probi Digestis™. Pharmavite already offers two probiotic products in their portfolio with different positionings compared to the Probi product. The product containing Probi Digestis™, will be the Premium Digestive Probiotic in the Nature Made®portfolio.
The product will be offered for sale to all channels where Nature Made®is present today, which includes supermarkets, drug stores, club stores as well as mass retail outlets. It will be merchandised exclusively in the Vitamin and Supplement section. This gives Probi the future option to enter the same channels in other sections of the stores.
The product will be presented to the U.S. trade in the fall of 2011 with first retail shipments in Q1-2012.
“We are very impressed with the gut health benefits Probi Digestis™ delivers to consumers and how this has been clinically documented. The commercial success of the product in international markets was another decisive factor for Pharmavite,” says Erin Gehan, Vice President, Marketing at Pharmavite.
The information is such that Probi AB must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
FOR FURTHER INFORMATION, CONTACT:
Michael Oredsson, CEO, Probi, phone. +46 46 286 89 23 or mobile +46 707 18 89 30
e-mail: michael.oredsson@probi.se
Niklas Bjärum, Vice President Marketing & Sales, Probi, phone. +46 46 286 89 67 or
mobile: +46 705 38 88 64, e-mail: niklas.bjarum@probi.se
ABOUT PROBI
Probi is a leading player in the probiotic research and the development of efficient and well-documented probiotics. The research areas include: gastrointestinal tracts, immune system, metabolic syndrome and stress and recovery. Probi’s customers are leading companies in the functional foods and dietary supplement business areas. Total income for 2010 was MSEK 81.1, of which the majority represented royalties. Probi’s share is listed on the Nasdaq OMX Stockholm, Small Cap. Probi has approximately 4,200 shareholders. For more information, please visit www.probi.com.
About Pharmavite LLC
For over 40 years, Pharmavite LLC has earned and maintained the trust of healthcare professionals, consumers, and retailers by manufacturing high-quality vitamins, minerals and other dietary supplements, and all-natural foods under its Nature Made®and SOYJOY® brand names. Nature Made vitamins is the number one supplement brand in the food, drug, club and mass channels. SOYJOY is an all-natural, nutrient-rich food baked with whole soy and real fruit. Based in Northridge, California, Pharmavite LLC operates as a subsidiary of Otsuka Pharmaceutical Co., Ltd. For more information, please visit www.pharmavite.com.
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