Probi to add approx. 5 million SEK in net sales through extended collaboration with Camox Pharmaceuticals
Probi has signed an additional agreement with Camox Pharmaceuticals, one of the fastest growing pharmaceutical companies in South Africa. The new agreement follows the one signed in March 2010 regarding Probi´s immune product. It gives Camox Pharmaceuticals rights to launch two new line extensions in South Africa based on Probi’s flagship strain Lp299v. The new agreement is expected to add approx. 5 million SEK to Probi´s net sales during the first 12 months after launch and it will contribute to profits already in 2011. This is in addition to revenues and profit expected from the first agreement with Camox.
“South Africa is a market with significant growth potential and there is great demand for probiotics targeting both immune defence and gut health. Our products will play an important role here,” says Michael Oredsson, CEO of Probi.
The present licensing agreement regarding Lp299v with Institute Rosell in South Africa will run in parallel with the new agreement.
“The new agreements are based on Probi selling finished products direct to Camox. This business model means Probi is able to grow revenue and profits faster”, says Michael Oredsson.
Mr. Suhail Gani, CEO of Camox Pharmaceuticals is excited about the new agreement.
“This gives us further possibilities to launch scientifically proven probiotics to large groups of South Africans who really need these products. The collaboration with Probi will contribute significantly to our growth in the years to come,” says Suhanil Gani.
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.
Niklas Bjärum, VP Marketing & Sales, Probi, phone: +46 46 286 89 67, mobile: +46 705 38 88 64, e-mail: niklas.bjarum@probi.se.
Suhail Gani, CEO Camox Pharmaceuticals, phone: +27 11 309 2700 , mobile: +27 82 440 8151, e-mail: sgani@ahcare.com.
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 66.2, of which the majority represented royalties. Probi’s share is listed on the Nasdaq OMX Stockholm, Small Cap. Probi has approximately 4,500 share holders. Fore more information, please visit www.probi.se.
About Camox Pharmaceuticals
Camox Pharmaceuticals is one of the fastest growing pharmaceutical companies in South Africa.
Camox Pharmaceutical’s sales representatives focus on General Practitioners, Pharmacies, Clinics and Hospitals. The company is part of the Amalgamated Healthcare Group, an important provider of pharmaceutical products and services in South Africa. The Group supplies over 5 500 dispensing doctors, 1 500 pharmacies, more than 100 hospitals and over 1 000 clinics in the country, they also have access to a captured customer base through their network of 60 associated retail pharmacies. The Groups revenue was more than MUSD 170 in 2009.