Agreement Combines Procaps Oral Delivery
System Technology and Manufacturing with Genomma's Strategic
Marketing and Distribution Footprint
BARRANQUILLA, Colombia and MEXICO
CITY and MIAMI,
Nov. 29,
2023 /PRNewswire/ -- Procaps Group (NASDAQ: PROC)
("Procaps"), a leading integrated international healthcare and
pharmaceutical services company, and Genomma Lab Internacional,
S.A.B. de C.V. (BMV: LABB; "Genomma"), the leading pharmaceutical
and personal care company in Latin
America, today announced a strategic agreement to develop,
manufacture and market five Softgel products within Latin America. Through the partnership,
Procaps will manufacture and Genomma will market and distribute the
products.
"Genomma's strong core brands, proven business model and
significant footprint throughout Latin
America in the OTC market, make Genomma an ideal partner for
our innovative oral delivery systems," said Ruben Minski, CEO of Procaps Group. "This
agreement therefore results in a unique synergy to bolster our CDMO
market share, especially in Mexico. We will also leverage Genomma's
precision multi-channel marketing and effective communication
vehicles across a variety of media platforms to reach new
customers. We're excited to partner with Genomma, as this
collaboration fits perfectly within our strategy to access new
markets. We look forward to working with Genomma's team to
introduce our Softgel and gummies superior delivery system across
their wide distribution network of independent and chain pharmacy
retailers, wholesalers and e-commerce channel."
Marco Sparvieri, CEO of Genomma
Lab Internacional, added, "Our consumer-oriented marketing, broad
retail distribution network, and low-cost, highly flexible
operating model will support the rapid roll-out of these five
Softgel products. This agreement creates additional synergies to
bolster Genomma's core competencies by offering additional
pharmaceutical forms beyond those produced in our state-of-the art
manufacturing complex in Mexico." Mr Sparvieri added, "Procaps'
innovative Softgel and gummies will add new pharmaceutical
formats to our premium branded product portfolio and lead to strong
growth for both partners, laying the groundwork for new
opportunities for growth."
About Genomma Lab Internacional
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest
growing pharmaceutical and personal care products companies in
Latin America. Genomma Lab
develops, sells and markets a broad range of Premium branded
products, many of which are leaders in the categories in which they
compete in terms of sales and market share. The Company has a sound
business model through a unique combination of a new product
development process, consumer oriented marketing, a broad retail
distribution network and a low‐cost, highly flexible supply chain
operating model. For more information visit: www.genommalab.com
Genomma Lab's shares are listed on the Mexican Stock Exchange under
the ticker "LABB" (Bloomberg: LABB:MM).
About Procaps Group
Procaps Group, S.A. ("Procaps") (NASDAQ: PROC) is a developer of
pharmaceutical and nutraceutical solutions, medicines, and hospital
supplies that reach more than 50 countries in all five continents.
Procaps has a direct presence in 13 countries in the Americas and
more than 5,500 employees working under a sustainable model.
Procaps develops, manufactures, and markets over the counter (OTC)
pharmaceutical products and prescription pharmaceutical drugs (Rx),
nutritional supplements and high-potency clinical solutions. For
more information, visit www.procapsgroup.com or Procaps
Group's investor relations website investor.procapsgroup.com.
Note on Forward-Looking Statements
This press release includes "forward-looking statements."
Forward-looking statements may be identified by the use of words
such as "forecast," "intend," "seek," "target," "anticipate,"
"believe," "expect," "estimate," "plan," "outlook," and "project"
and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
Such forward-looking statements include projected financial
information. A number of factors could cause actual results or
outcomes to differ materially from those indicated by such
forward-looking statements. These forward-looking statements
involve a number of risks, uncertainties (some of which are beyond
our control), or other assumptions that may cause actual results or
performance to be materially different from those expressed or
implied by these forward-looking statements. These risks and
uncertainties include, but are not limited to, a) the risks
included under the header "Risk Factors" in Procaps' annual report
on Form 20-F filed with the SEC, as well as Procaps' other filings
with the SEC and the risks included under the header "Factores de
Riesgo" in Genomma's annual report on Annex N filed with the BMV,
as well as Genomma's other filings with the BMV. Should one or more
of these risks or uncertainties materialize, or should any of our
assumptions prove incorrect, actual results may vary in material
respects from those projected in these forward-looking statements.
We undertake no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required under applicable securities
laws. Accordingly, you should not put undue reliance on these
statements.
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SOURCE Genomma Lab Internacional, S.A.B. de C.V.