Probi probiotics to enter India before year's end
end of the year after the Swedish probiotic company's partner
Institut Rosell signed an agreement with Aristo Pharmaceuticals.
The deal, set to launch products containing Probi's probiotics Lp 299v by autumn of this year, means that the company's probiotics will now be marketed in the world's three most populated countries. Probiotic supplier Institute Rosell and Probi have had a licensing partnership for the past three years for the marketing of the Probi probiotic for dietary supplements. Other markets for which agreements have been signed are Australia, France, Canada, China, Scandinavia, the UK, South Africa, Germany, and the US. "High quality products, marketed by high quality distributors, will help to develop Probi´s share of the market substantially. With the new agreement, our probiotics will be launched in the world's three most populated countries: India, China and the US," said Per-Ola Forsberg, executive vice president of Probi. Aristo Pharmaceuticals appears to fit with Probi's own image, being described as "a dynamic and rapidly growing company." The company is reportedly aiming to position itself amongst the top five pharmaceutical companies in India. The announcement comes a month after the Swedish probiotic company signed three new agreements with Institute Rosell. They will now use Probi's Lactobacillus plantarum 299v in supplement products soon to be launched in Greece, the Czech Republic, and Slovenia. The estimated total value of the global market for probiotic functional food is some €9.8 billion, with an annual growth rate of over 19 per cent in recent years.
