LUND, Sweden--(BUSINESS WIRE)--Regulatory News:
Probi (STO:PROB) has secured its largest order to date, valued at MSEK 17, from the US company NBTY. Probi is to supply probiotic products that will be included in an already well-established consumer product. In the US, demand for well-documented probiotic products is considerable and the market has been growing by 20% plus over the last couple of years.
In 2014, Probi has experienced strong growth in the Consumer Healthcare business area, largely attributable to successful launches in the North American market. Through its business partner, Viva 5, Probi has now secured its largest single order to date, worth MSEK 17, from NBTY for Probi’s digestive and immune health products, which are to be delivered in early 2015. As a comparison, Probi had sales of slightly more than MSEK 24 in the North American market during the first nine months of 2014.
Probi’s bacterial strains will be included in a product that is already sold through retailers in the US market under the Nature’s Bounty brand, and it is one of the six largest probiotic products in the Massretail market. (IRI, 2014) Probi’s product brand will appear on the customer’s product as a seal of quality.
“We are continuously looking for ways to strengthen our product offerings and are excited to be upgrading our Probiotic 10 offering by adding more, well-documented bacterial strains. Probi’s high-quality strains are a perfect fit for us, and the company will now become a key supplier of probiotics for digestive and immune health”, says Kimberly Vigliante, SVP of Marketing at NBTY.
It is estimated that the US probiotics market is worth around BUSD 1,2 with annual growth of more than 20%. (Euromonitor, 2014) Probiotics constitute the fastest growing segment in the dietary supplements market, driven by trends such as greater health awareness among US consumers and increased market investments in this category.
“Naturally, we are extremely upbeat about the great demand for our products. Probi’s extensive research over the years has provided well-documented products with proven health benefits that are now increasingly in demand in several markets”, says Peter Nählstedt, CEO of Probi.
The listed company, NBTY, is the largest US player in the VMS (Vitamins, Minerals and Supplements) segment. During the autumn 2014, NBTY successfully launched a number of VMS products under the Nature’s Bounty brand, including Probi’s digestive health product Probi Digestis®, in supermarkets and pharmacies in the US. Earlier in 2014, NBTY also launched products featuring Probi Digestis® in the health food sector and “direct to consumer”.
The information is such that Probi AB must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act.
ABOUT PROBI Probi AB is a Swedish publicly traded biotechnology company that develops effective and well-documented probiotics. Through its research, Probi has created a strong product portfolio in the gastrointestinal health and immune system areas. The products are available to consumers in more than 30 countries worldwide. The customers are leading food, health-product and pharmaceutical companies in the Functional Food and Consumer Healthcare segments. Probi had sales of MSEK 102 in 2013. The Probi share is listed on NASDAQ OMX Stockholm, Small-cap. Probi has approximately 3,000 shareholders. Read more on www.probi.se.
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