The agreement covers 18 countries, primarily in the EU and emerging markets
Ipsen and Probi have jointly announced the signing of a license and supply agreement for the commercialisation of Probi’s probiotic strain Lactobacillus plantarum 299v (LP299V).
The agreement covers 18 countries, primarily in the EU and emerging markets. This clinically documented probiotic with patents in the gastrointestinal field is expected to complement Ipsen’s strong medical portfolio in gastroenterology. From Probi’s perspective, it could become one of the the largest distribution agreements so far and is of high strategic importance for both companies.
Under this new agreement, Probi will supply bulk LP299V capsules and Ipsen will be responsible for packaging, marketing and selling the product. The product is planned to be marketed primarily through pharmacies. It is expected to be launched in the first half of 2017 as a food supplement in the European markets and, then, in other key markets such as Russia and China, depending on regulatory approval.
The agreement covers in total 18 markets, many with high growth potential, with an option to include additional countries. The product will be marketed under Ipsen’s key brand and Probi’s trademark LP299V.
Marc de Garidel, Chairman and Chief Executive Officer of Ipsen, stated: 'Ipsen is delighted to enter the field of probiotics with a very well-recognised and R&D focused company such as Probi. This partnership is fully aligned with our strategy to strengthen our portfolio in the field of gastroenterology and expand into probiotics.'
Jean Fabre, Executive Vice President Primary Care, added: 'This agreement will help to sustain Ipsen’s primary care growth and accelerate transition to the OTx model. The product has strong medical endorsement that will perfectly fit with our expertise and leverage our capabilities towards physicians and pharmacists in many countries.'
Commenting on this partnership, Peter Nählstedt, Chief Executive Officer of Probi, noted: 'We have found a perfect match with Ipsen – a very well respected pharmaceutical company with high growth ambitions and strong brands in the gastrointestinal field. Through its extensive organisation, we expect to enter many new markets with LP299V, which will strengthen Probi's footprint on the global market. We have high expectations and consider the agreement to have a high volume potential.'