Latin American health and pharma company Procaps Group (NASDAQ: PROC) recently announced it is partnering with Genomma Lab Internacional to develop, manufacture, and market five softgel products within the region.
Specifically, through the strategic partnership, Procaps will manufacture and Genomma will market and distribute the products, according to the firms.
“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, who recently took charge as CEO of Procaps Group.
“This agreement results in a unique synergy to bolster our CDMO market share, especially in Mexico,” he continued. “We will also leverage Genomma’s precision multi-channel marketing and effective communication vehicles across a variety of media platforms to reach new customers … This collaboration fits perfectly within our strategy to access new markets.”
Marco Sparvieri, CEO of Genomma Lab Internacional, said that Procaps’ capability in softgels and gummies will “add new pharmaceutical formats” to the firm’s portfolio while leading to “strong growth for both partners” and “laying the groundwork for new opportunities for growth.”
Sparvieri added that “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.”