EU legislation opens new markets for Nutri Pharma
07.03.2007 - New EU legislation will enable companies who register a health claim made on food in one EU country to market this food using the same health claim in any EU member state. Nutri Pharma has awaited this legislation as it provides opportunities for companies who have made considerable investments in developing patented products with proven health benefits.
Under the new initiative, Nutri Pharma, or its commercial partner, would be able to apply for a health claim to be used on functional food products based on evidence from clinical trials. Any health claim would need to be backed up by a scientific dossier incorporating data from all the clinical trials undertaken on Nutri Pharma’s products proving beneficial health effects. The European Food and Safety Authority would approve the claim registered by an appropriate national authority.
Once registered, these health claims can be used in marketing material across the EU stating, for example, that Nutri Pharma’s unique soy based product Abacor® “is twice as effective at reducing cholesterol compared to soy protein alone.” This legislation is also good news for the consumer who will be assured that health claims made on foods are clear, accurate and substantiated.
“Until now, Nutri Pharma has sold its patented cholesterol reducing products in the Nordic countries and in Russia and the CIS. Cholesterol lowering products comprise, after anti depressants, the largest pharmaceutical market in the world. The change in EU legislation will enable us to protect our products in a rapidly growing functional food market and to market them with scientific validation. The significant investment we have made in high quality clinical trials puts us in a unique position to utilise the new legislation,” comments Trond Syvertsen, CEO of Nutri Pharma.
The registration processes of patented products can be done by Nutri Pharma alone or in partnership with other companies or multinational distributors. Nutri Pharma will explore available alternatives.
The new regulation (No 1924/2006), adopted by the European Parliament in December 2006, is expected to be published in the European Official Journal this spring.
For further information please contact
Trond Syvertsen, CEO, Nutri Pharma on +47 917 21 457
About Nutri Pharma
Nutri Pharma is one of the leaders in soy technology for treatment and prevention of life-style related diseases. It has developed a number of unique patented products that are documented by extensive clinical trials, well proven in the Nordic market, and protected by patents.
· Nutri Pharma has conducted over 20 years of research and development on the efficacy and safety of soy proteins, compositions and technologies, including the Abacor® composition of Isolated Soy Protein and Soy Fibre.
· Nutri Pharma has carried out more than 40 clinical and pre-clinical trials on its soy compositions, many of these
to the same high GCP (good clinical practice) standards as the pharmaceutical industry.
· Nutri Pharma owns the Nutrilett® brand of weight management products, marketed in the Nordic region under a long-term licence
agreement with Collett Pharma (Orkla). Nutrilett® has been the #1 selling nutrition product in the Nordic markets for the
last 17 consecutive years, with a 20% growth in 2006. In weight management powders and bars, Nutrilett® has a market share
of more than 60% in the Nordic countries.
· Nutri Pharma distributes its NutriPro and NutriBar products in Russia/CIS through the wholly owned subsidiary, Meridian International Group (MIG).
· Nutri Pharma is listed on the Oslo Stock Exchange