Leading position on the Swedish probiotic market after six months cooperation between Probi and Bringwell
Six months after the launch of the cooperation between Probi and Bringwell, ProbiMage and ProbiFrisk have become leading probiotic dietary supplements in Swedish health food stores and pharmacies. The launch is expected to generate revenues of approximately 7 million SEK for Probi already in 2010.
In December 2009, Probi signed an agreement with Bringwell/Green Medicine with a view to launch of Probi’s dietary supplements for gut health (ProbiMage) and immune health (ProbiFrisk) in the Nordic countries. The products were launched in pharmacies and health food stores in Sweden in March/April 2010 by Bringwell’s Swedish subsidiary Green Medicine.
Bringwell/Green Medicine has succeeded in revitalising the Swedish probiotic market. ProbiMage and ProbiFrisk were launched as indication specific products with an emphasis on strong scientific documentation, which Probi’s probiotics are renowned for. The strategy has proven successful and has enabled Probi to establish itself as a leading probiotics company in Swedish pharmacies and health food stores.
”The Swedish launch has made it possible to market our own brand direct to consumer and the cooperation with Bringwell/Green Medicine is excellent. The focus so far has been on ProbiMage and this product has driven growth during the first six months. We can conclude that Probi has already generated a good return on the investment,” says Michael Oredsson, CEO of Probi.
The 2010 sales forecast in Sweden will be exceeded and Probi’s total dietary supplement business will get a significant boost. ProbiMage and ProbiFrisk were launched in March/April and two-thirds of sales are through pharmacies and the rest through health food stores.
”Probi’s unique clinical documentation has been a key success factor. The positioning is built on science and the efficacy of the probiotic strains. We were able to carve out a unique niche built on credibility”, says Tom Johnsson, founder of Green Medicine.
Probi and Bringwell are now preparing to launch ProbiMage and ProbiFrisk in Norway and Finland and these launches are expected to take place shortly.
For more information, please contact:
Michael Oredsson, CEO Probi, phone: +46 46 286 89 23, mobile: +46 707 18 89 30,
e-mail: michael.oredsson@probi.se.
David Rönnberg, CEO Bringwell, phone: +46 8 412 72 00, e-mail: david.ronnberg@bringwell.com.
Tom Johnsson, Green Medicine, phone: +46 40 94 91 95, e-mail: tom@greenmedicine.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 2009 was MSEK 65.5, of which the majority represented royalties. Probi’s share is listed on the Nasdaq OMX Stockholm, Small Cap. Probi has approximately 4,500 shareholders. For more information, please visit www.probi.com.
About Bringwell
Bringwell is the Nordic region’s leading supplier of self-care products. In 2009, the company had sales of MSEK 724.9, with a gross margin of more than 62%. Bringwell’s strategy is to grow organically and through acquisitions. During 2008, Bringwell acquired the Nordic rights to a number of Scandinavia’s most important health food products, including Kan Jang, Chi San, Chisandra, Arctic Root, Russian Root and Femineral. In addition, Bringwell acquired Biokraft AB, which provides the company expanded production capacity and a broader product portfolio. Bringwell AB (publ) is listed on First North and Evli Bank Plc. is its Certified Adviser. Bringwell develops its own clinically documented brands and patented compounds. To supplement its own brands, Bringwell in-licenses attractive products for sale in the Nordic market. Read more on: www.bringwell.com.