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.
SOURCE Genomma Lab Internacional, S.A.B. de C.V.
