New international agreements for the distribution of Cetilar® and UltraMag®
The new agreements with the partners Renapharma and Fresenius Kabi Austria mark the start of an important internationalisation project regarding the products in the Cetilar® and Ultramag® lines.
The process of expansion on international markets continues for PharmaNutra, which last week informed shareholders of the financial statements figures for 2018, characterised by growth in double figures, with revenue of € 46.7 million (+23% compared to 2017).
The latest developments in the international sphere regard the products in the Cetilar® line, the rapidly absorbed cream ideal for the symptomatic treatment of joint and muscle pain caused by trauma, which in the coming months is set to make its debut on three important EU markets, and the new Ultramag®, the magnesium nutritional supplement created thanks to the exclusive proprietary Sucrosomial® Technology.
Thanks to the agreement signed with Renapharma, already an established partner of PharmaNutra since 2014 for the distribution of SiderAL® Forte in the Scandinavian peninsula, Cetilar® will soon also be available in Sweden and Norway. In addition, the company founded in 2003 by the Lacorte brothers has also signed a contract with Fresenius Kabi Austria for the launch of Oleovital Magnesium (Ultramag®) and Oleovital Cetilar® on the Austrian market. The two new products will join the line of SiderAL® iron-based nutritional supplements that Fresenius Kabi has been exclusive distributor for on the Austrian market for several years.
These two new agreements are an important step forward in the international growth of the innovative, patented Cetilar® line, well known above all in the world of sport, thanks to the numerous partnerships established in recent years. PharmaNutra is the main sponsor of Parma Calcio football team in Serie A, the Cetilar Racing team competing in the 24 Hours of Le Mans and in the World Endurance Championship, as well as the famous 151 Miglia-Trofeo Cetilar sailing regatta.
Roberto Lacorte, Vice President of PharmaNutra, declares: “The new agreements with the partners Renapharma and Fresenius Kabi Austria, with whom we already have an important, well established business relationship, are both confirmation of the value and mutual success of the existing partnerships and an acknowledgement of the major potential of our Cetilar® product line, continually expanding on foreign markets. The Cetilar® brand now enjoys an established reputation also at international level, and these new results are merely the beginning of a long-term process of expansion, which in the months to come will be taking important new steps that we will be pleased to share with our shareholders”.