Nutritional Growth Solutions (ASX:NGS) launches Healthy Height® in Europe

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Summary

  • Nutritional Growth Solutions to launch Healthy Height® in the EU via an exclusive distribution agreement with Dicofarm.
  • The Company stated that the patented product is available in health food stores and pharmacies in Italy.
  • NGS is looking forward to increasing its distribution network across the EU.

Global nutritional health player Nutritional Growth Solutions Ltd (ASX:NGS) has updated the market with the launch of its patented Healthy Height® product in the EU. In Italy, Healthy Height® is available under the name Dico Up.

Let’s look at the distribution agreement with Dicofarm in detail:

Nutritional Growth Solutions to Launch Healthy Height in Italy

On 8 March 2021, Nutritional Growth Solutions announced that the Company is planning to launch Healthy Height® via a three-year exclusive distribution agreement with Dicofarm, a clinically tested product distributor.

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Dicofarm is a leading distributor of clinically proven products throughout the EU and was founded in 1977 with a yearly return of approximately €40 million.

The distribution agreement with Dicofarm will see Healthy Height’s availability in pharmacies and health food stores throughout Italy. Notably, in Italy, there are a total of 8.2 million children under 14 years.

Moreover, the Company highlighted that at this time, the financial impact of the Agreement is not definable, with revenue generated by NGS subject to the sale of its products.

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Healthy Height® in a nutshell

  • A scientifically formulated nutritional product, Healthy Height®, is clinically proven to assist children in growing taller through shakes and foods that contain specific vital nutrients that are required for growth.
  • Leading paediatric specialists develop healthy Height® from the world-renowned Schneider Children’s Medical Center in Israel.
  • Healthy Height® is available at pharmacies as well as health food stores across Italy.
  • The launch in Italy brings the number of markets the product is available to five. The other markets include China, India, Israel, and North America.

ALSO READ: Nutritional Growth Solutions (ASX:NGS) partners with Yoola to market its brand in Asia

Management Commentary

CEO and Managing Director of NGS, Liron Fendell, commented:

Ms Fendell also added that the Company is pleased to now be able to offer Italian children access to a nutritional product developed by leading paediatric specialists that is supported by rigorous science. Further, Nutritional Growth Solutions is looking forward to increasing its distribution network across the EU.

Stock Information: NGS shares were trading at A$0.240 (12:13 PM AEDT), down 2.041% from the previous close. The Company has a market cap of A$23.20 million.

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