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:10/11/2017)... Palo Alto, CA, USA (PRWEB) , ... October 11, 2017 , ... ... is set to take place on 7th and 8th June 2018 in San Francisco, ... and policy influencers as well as several distinguished CEOs, board directors and government officials ...
(Date:10/11/2017)... (PRWEB) , ... October 11, 2017 , ... Disappearing forests ... the lives of over 5.5 million people each year. Especially those living in larger ... startup Treepex - based in one of the most pollution-affected countries globally - decided ...
(Date:10/10/2017)... ... October 10, 2017 , ... ... company advancing targeted antibody-drug conjugate (ADC) therapeutics, today confirmed licensing rights that ... Polymerized Liposomal Nanoparticle), a technology developed in collaboration with Children’s Hospital Los ...
(Date:10/10/2017)... SomaGenics announced the receipt of a Phase ... (Single Cell), expected to be the first commercially available ... from single cells using NGS methods. The NIH,s recent ... development of approaches to analyze the heterogeneity of cell ... for measuring levels of mRNAs in individual cells have ...
Breaking Biology Technology:
(Date:4/17/2017)... NXT-ID, Inc. (NASDAQ: NXTD ) ("NXT-ID" or the ... Annual Report on Form 10-K on Thursday April 13, 2017 with ... ... Relations section of the Company,s website at http://www.nxt-id.com  under "SEC ... . 2016 Year Highlights: Acquisition ...
(Date:4/11/2017)... DUBLIN , Apr. 11, 2017 Research ... Tracking Market 2017-2021" report to their offering. ... The global eye tracking market to grow at ... The report, Global Eye Tracking Market 2017-2021, has been prepared based ... report covers the market landscape and its growth prospects over the ...
(Date:4/5/2017)... 2017  The Allen Institute for Cell Science today ... one-of-a-kind portal and dynamic digital window into the human ... first application of deep learning to create predictive models ... and a growing suite of powerful tools. The Allen ... future publicly available resources created and shared by the ...
Breaking Biology News(10 mins):