Navigation Links
Martek Signs Multi-Year Worldwide Sole Source Supply Agreement with Abbott
Date:10/8/2007

COLUMBIA, Md., October 8 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation announced today that it has entered into a long-term supply agreement with Abbott Nutrition, a leading worldwide producer of infant formula products including the Similac(R) Advance(R) brand. Martek will serve as Abbott's exclusive worldwide DHA and ARA supplier for all of its infant formula products. The agreement provides for a 10-year term with Abbott having the right to terminate the arrangement as of January 2012.

Martek has been supplying DHA and ARA to Abbott for use in infant formula products under a 25-year license agreement signed in 2000 which remains in effect. In the new supply agreement, Abbott has committed to purchase all of its worldwide DHA and ARA requirements from Martek.

Martek manufactures nutritional oils that contain the long-chain polyunsaturated fatty acids DHA and ARA, both of which are naturally present in breast milk. Clinical studies have demonstrated benefits for infants receiving formula supplemented with DHA and ARA. Martek's proprietary blend of DHA and ARA, marketed under the brand names life'sDHA(TM) and life'sARA(TM), is currently used in over 95% of U.S. infant formulas. Additionally, infant formula containing life'sDHA and life'sARA has been consumed by over 20 million infants in over 65 countries worldwide.

"This new agreement affirms the benefits of adding Martek's DHA and ARA to infant formula," said Steve Dubin, CEO of Martek. "With this new arrangement, two-thirds of Martek's business in the infant formula market is subject to multi-year, sole source agreements."

Martek Biosciences Corporation (Nasdaq: MATK) is a leader in the innovation and development of DHA omega-3 products that promote health and wellness through every stage of life. The company produces life'sDHA(TM), a sustainable and vegetarian source of the omega-3 fatty acid DHA (docosahexaenoic acid), for use in foods, beverages, infant formula, and supplements. The company also produces life'sARA(TM) (arachidonic acid), an omega-6 fatty acid, from a sustainable, vegetarian source, for use in infant formula. For more information on Martek Biosciences Corporation, visit http://www.martek.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, 2006 and other filed reports on Form 10-K, Form 10-K/A, Form 10-Q and Form 8-K.

Contact:

Cassie France-Kelly

Public Relations

(443) 542-2116

media@martek.com

Kyle Stults

Investor Relations

(410) 740-0081

investors@martek.com


'/>"/>
SOURCE Martek Biosciences Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. JT Packard exec resigns after settling copyright disputes
2. Cray signs $250M deal to develop supercomputer
3. Donley resigns as WiCell director
4. WARF signs licensing pact with BD Biosciences
5. TeraMedica signs agreement with ThedaCare
6. CATI signs agreement for food processing technology
7. Doyle signs bill that impacts electronic medical records
8. Doyle signs "self-dealing" bill
9. Electronic signs for municipalities: Las Vegas or lost revenues?
10. NorthStar signs exclusive agreement with Illinois foundation
11. Renaissance Learning CEO resigns to start company
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... NC (PRWEB) , ... June 27, 2016 , ... ... mission to bring innovative medical technologies, services and solutions to the healthcare market. ... and implementation of various distribution, manufacturing, sales and marketing strategies that are necessary ...
(Date:6/27/2016)... , June 27, 2016   Ginkgo Bioworks , ... industrial engineering, was today awarded as one of ... of the world,s most innovative companies. Ginkgo Bioworks ... for the real world in the nutrition, health ... work directly with customers including Fortune 500 companies ...
(Date:6/24/2016)... , ... June 24, 2016 , ... While the majority ... as the Cary 5000 and the 6000i models are higher end machines that use ... height of the spectrophotometer’s light beam from the bottom of the cuvette holder. ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... pleased to announce the launch of their brand, UP4™ Probiotics, into Target stores ... 35 years, is proud to add Target to its list of well-respected retailers. ...
Breaking Biology Technology:
(Date:6/22/2016)... 22, 2016   Acuant , the ... solutions, has partnered with RightCrowd ® ... Visitor Management, Self-Service Kiosks and Continuous Workforce ... add functional enhancements to existing physical access ... venues with an automated ID verification and ...
(Date:6/20/2016)... June 20, 2016 Securus Technologies, a ... solutions for public safety, investigation, corrections and monitoring ... involved, it has secured the final acceptance by ... for Managed Access Systems (MAS) installed. Furthermore, Securus ... to be installed by October, 2016. MAS distinguishes ...
(Date:6/9/2016)... , June 9, 2016  Perkotek an innovation leader in attendance control systems ... seamlessly log work hours, for employers to make sure the right employees are actually ... http://photos.prnewswire.com/prnh/20160609/377486LOGO ... ... ...
Breaking Biology News(10 mins):