Probi has signed a distribution agreement giving Alapis Group the right to sell Probi’s dietary supplement for immune health in Greece and Cyprus. Alapis Group, based in Greece, is set to be one of the leading pharmaceutical companies in Southeast Europe. The product will be launched under Alapis international probiotic brand, which currently carries two products. Probi will start shipments in the second quarter of 2011 and the product will be launched into Greek pharmacies in the third quarter.

“Alapis Group is a perfect partner for Probi in Greece, with a strong presence and track record in Southeast Europe. The launch in Greece is another important milestone for this new product and it is the sixth market where Probi enters into a distribution agreement for the immune tablet,” says Michael Oredsson, CEO of Probi.

Alapis Group is based in Athens, Greece with a turnover of €1,232.5 million in 2009 and more than 1,700 employees. The Group has had a proactive growth and acquisition strategy which has resulted in a strong presence in Southeast Europe. The Group operates in Turkey, Bulgaria, Romania, Cyprus, Serbia, Croatia, as well as UK. 

“There is an increasing demand for probiotics in Greece. Probi’s immune product is clinically documented in immune health and common colds and will be sold as a chewable tablet in pharmacies. We are convinced that a successful launch will grow the product category and open for more synergies and new geographies,” says Mr. Stylianos Kibaridis, CEO of  Alapis S.A. in Greece.

 Dietary supplements based on Probi’s immune probiotics are now sold or are in the process of being launched in some six countries worldwide.

About Probi

Probi is a leading player in the probiotic research and the development of efficient and well-documented probiotics.

The research areas include: gastrointestinal tracts, immune system, metabolic syndrome and stress and recovery. Probi’s customers are leading companies in the functional foods and dietary supplement business areas. Total income for 2009 was MSEK 65.5, of which the majority represented royalties. Probi’s share is listed on the Nasdaq OMX Stockholm, Small Cap. Probi has approximately 4,500 shareholders. For more information, please visit http://www.probi.com.

About Alapis GroupAlapis is one of the leading pharmaceutical companies in Southeastern Europe involved in research and development, marketing and sales, manufacturing, wholesale and distribution of pharmaceutical and para-pharmaceutical products. The Group maintains an established product portfolio with a strong increasing presence across different therapeutic categories and operates one of the largest pharmaceutical distribution platforms in Greece distributing products on its own behalf and for international companies to over 5,000 pharmacies. Today, the Group employees more than 1,700 people and it is present in Turkey, Serbia, Romania, Bulgaria, Croatia, Cyprus and United Kingdom. In 2009, the Group’s sales and EBITDA reached € 1,232.5 million and €308.1 million respectively. Alapis is listed in the Athens Exchange. For more information please visit http://www.alapis.gr.