COLUMBIA, Md., Sept. 24 /PRNewswire-FirstCall/ -- (Nasdaq: MATK) -- Martek Biosciences Corporation announced today that it has entered into a multi-year sole source supply agreement with Grupo Ricap. Martek will supply DHA and ARA in all infant formulas produced by Grupo Ricap in Mexico. Grupo Ricap is a third-party manufacturer of infant formula and Martek's life'sDHA & life'sARA(TM) will initially be available in infant formula products produced for a large chain of pharmacies in Mexico and Guatemala.
"Sole-source agreements like this one further demonstrate that companies across the globe recognize the importance of adding Martek's trusted sources of DHA and ARA to infant formula and growing up milks for infant health and development," said Ethan Leonard, vice president of pediatric nutrition for Martek. "This product launch in Mexico and Guatemala is another step towards Martek's goal of further expanding into new markets outside of the U.S."
Naturally present in human breast milk, DHA (docosahexaenoic acid), and ARA (arachidonic acid) are fatty acids important to infant development and growth. Clinical studies have demonstrated numerous benefits for infants receiving DHA and ARA supplemented formula, including improved mental and visual development. Martek's blend of DHA and ARA, life'sDHA & life'sARA, 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.
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 http://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, 2007 and other filed reports on Form 10-K,
Form 10-K/A, Form 10-Q and Form 8-K.
Public Relations, Martek
Investor Relations, Martek
|SOURCE Martek Biosciences Corporation|
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