Probi signs distribution agreement with Ta`am Teva Altman in Israel regarding Lp299v™ dietary supplements
Probi has signed an agreement giving Ta`am Teva Altman rights to launch Probi’s dietary supplement for gut health based on Lp299v™ in Israel. The launch is planned to take place in the second quarter of 2011.
“Ta`am Teva Altman is one of the leaders in consumer healthcare in Israel and the company is also well-known internationally. I am particularly pleased that we are able to move quickly to launch,” says Michael Oredsson, CEO of Probi.
The Israeli VMS market is estimated at 200 million US dollars and is expected to have an annual growth of approximately 10 percent.
Dietary supplements based on Probi’s probiotics are sold or are in the process of being launched in more than 40 countries worldwide.
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
Niklas Bjärum, VP Marketing & Sales, Probi, phone. +46 46 286 89 67 or mobile. +46 705 38 88 64
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 TA`AM TEVA ALTMAN
With over 40 years of experience Ta'am Teva Altman is a leader in the Israeli dietary supplement market. Ta'am Teva Altman promotes its products through physicians, dieticians, naturopath and acupuncturist and distributes to retailers such as pharmacies, drug stores, HMOs and natural food stores. Ta'am Teva Altman has 150 employees and is owned by the Maabarot Group. For more information, please visit www.maabarot.co.il / www.altman.co.il.