Probi (STO:PROB) and Pharmavite have signed a new long-term agreement for distribution and marketing of Probi's probiotic products. Under the new agreement, Pharmavite will broaden the distribution and expand the Nature Made® range with additional probiotic products from Probi. Pharmavite will also expand its probiotic business internationally, among other markets, in the Middle East.
Pharmavite launched Probi Digestis® capsules based on Probi’s flagship strain LP299V® in the U.S. market under the Nature Made brand in 2012 and have accounted for a significant portion of Probi’s growth in the US. Pharmavite and Probi have signed a new long-term agreement under which Pharmavite will broaden the distribution of Probi Digestis capsules through additional sales channels on the fast growing U.S. market.
Probiotic products are an important part of Pharmavite’s strategic focus for the coming year and Pharmavite will together with Probi expand its probiotic range with additional products and offerings.
“We are very excited to expand our partnership with Pharmavite,” said Peter Nählstedt, CEO of Probi. “Pharmavite is a reputable and skilled partner whose quality focus is an excellent match with Probi’s clinically proven products.”
The companies have also signed an international agreement under which Pharmavite will launch Probi Digestis internationally on markets where Pharmavite is currently selling the Nature Made brand. The first international market to launch is the United Arab Emirates and registration processes have been initiated in multiple countries in the Middle East.
“Probiotics is an area of focus for Pharmavite and we plan to invest in this category going forward,” said Etienne Patout, chief marketing officer of Pharmavite. “Probi plays a major role in this effort as we share the same commitment to reasearch and development and the marketing of efficacious products.”