Martek Biosciences Corporation announced today that it has entered into a multi-year sole-source supply agreement with Puleva Food for the use of life'sARA(TM) in infant formulas produced by Puleva and sold in Spain. Puleva is part of the Ebro-Puleva group, Spain's largest agro-food business.
"Our partnership with Puleva further demonstrates that companies worldwide understand the importance of adding Martek's ARA to infant formula for infant health and development," said Ethan Leonard, vice president of pediatric nutrition for Martek. "Martek's DHA and ARA can be found in infant formula sold in more than 75 countries, and we continue to expand our international presence in the infant formula market."
Naturally present in human breast milk, ARA (arachidonic acid) is a fatty acid important to infant development and growth. Clinical studies have demonstrated numerous benefits, including improved mental and visual development, for infants receiving infant formula supplemented with ARA and DHA (docosahexaenoic acid), another fatty acid important to infant development. Martek's blend of DHA and ARA, life'sDHA & life'sARA(TM), is the only source of these nutrients currently used in U.S. infant formula, and is present in more than 95 percent of infant formula sold in the U.S. Additionally, Martek is a leading global supplier of DHA and ARA and infant formulas containing Martek's nutritional oils are available in more than 75 countries worldwide.
Headquartered in Granada, Spain, Puleva operates mainly in the manufacturing and marketing of differentiated, value-added dairy products, bolstered by powerful research and innovation, and focusing on consumer health. The company also is developing a major business line in the baby foods segment. Puleva Food is part of the Ebro-Puleva group, Spain's largest agro-food business and now accounts for approximately 18 percent of the Group's volume of sales.
Martek Biosciences Corporation is a leader in the innovation and development of DHA and ARA and has developed patented technology for the production and use of these ingredients. DHA omega-3 products promote health and wellness through every stage of life and ARA omega-6 products support growth and development in infants and children. The company produces life'sDHA(TM), a sustainable vegetarian source of DHA omega-3, for use in foods, beverages, infant formula and supplements, and life'sARA(TM), a sustainable vegetarian source of ARA omega-6, for use in infant formula and growing up milks. For more information on Martek Biosciences, visit http://www.martek.com/. For more information on products containing life'sDHA and life'sARA, visit www.lifesdha.com.
Sections of this release contain forward-looking statements. These statements are based upon numerous assumptions which Martek cannot control and involve risks and uncertainties that could cause actual results to differ. These statements should be understood in light of the risk factors set forth in the company's filings with the Securities and Exchange Commission, including, but not limited to, the company's Form 10-K for the fiscal year ended October 31, 2008 and other filed reports on Form 10-K, Form 10-K/A, Form 10-Q and Form 8-K.