COLUMBIA, Md., Oct. 5 /PRNewswire-FirstCall/ -- Martek Biosciences Corporation announced today that it has entered into a multi-year license and supply agreement with Alter Farmacia, S.A. for the inclusion of Martek's arachidonic acid (ARA) oil in Alter's infant formula products. Under the terms of the agreement, Alter Farmacia will purchase Martek's ARA for all of its infant formula products that contain ARA sold in Spain and Portugal.
Headquartered in Spain, Alter Farmacia is part of the Alter Group and markets baby foods, infant formula, and cosmetics.
Naturally present in human breast milk, ARA is an essential fatty acid important to infant development and growth. When used in combination with DHA, clinical studies have demonstrated numerous benefits for infants receiving ARA supplemented formula. Martek's ARA is the only ARA currently used in U.S. infant formulas, and is present in more than 90 percent of infant formula sold in the U.S.
"This product launch is another step towards Martek's goal of further expanding our infant formula market outside of the U.S., where we are already in more than 90 percent of infant formulas sold," said Steve Dubin, CEO of Martek. "It's satisfying to know that with every new license agreement, more and more infants around the world will benefit from Martek's products."
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.
|SOURCE Martek Biosciences Corporation|
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