Probi signs agreement with a probiotic leader in India
Probi has signed a distribution agreement with USV Limited, a leading Indian Pharmaceutical company. USV will launch Vibact IBS based on the probiotic formulation Probi Digestis, in Q4 2012 in the growing Indian market. The agreement reinforces and strengthens Probi's existing presence in the large Indian market.
“USV is the best probiotic partner in the consumer healthcare sector in India. We are very pleased to partner with USV and to be able to launch our probiotic formulation Probi Digestis in a market with significant growth potential”, says Michael Oredsson, CEO of Probi.
Probi’s capsules based on the Lactobacillus plantarum 299v strain will be launched under the Vibact IBS brand and will feature Probi´s logo and ingredient prominently on the pack. USV offers a market leading probiotic prescription brand, Vibact, in India. Vibact IBS will specifically target IBS symptoms like bloating, flatulence and pain. These are symptoms which are common in the Indian population. USV will use its extensive field force to market the product across India.
“Probi’s well-documented and effective IBS probiotic will be a unique addition to our range and will strengthen our market position. We are certain that the product will be well received in the market,” says Mr. Prashant Tewari, Managing Director at USV.
Probi’s partner Institut Rosell’s current distribution agreements in India covering Lp299v capsules with Aristo Pharmaceuticals and Ranbaxy will remain in force but limited overlap is expected.
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 USV Limited
USV Ltd is a leading Indian pharmaceutical company with product presence in markets around the globe including USA & Europe. In India, USV Ltd is a market leader in Diabetes, Cardiology & Probiotic segments and has a good presence in nutritionals segment. For more information, please visit www.usvindia.com.
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