Fascinating find, but quite a disconnect from what FMC believes and how Vascepa is selling so far - also note the plans for both nutraceutical and an un-named pharmaceutical O3 - hmmmm. Aker is Neptune's largest krill oil competitor - do these plants process krill? What does Trygg produce, and for whom?
Epax is a global leader in the production of high purity, premium grade Omega-3 EPA/DHA fatty acids that are used primarily in the nutraceutical, food and active pharmaceutical ingredient (API) intermediate markets. Epax uses proprietary purification and concentration production techniques that address the high-value, fast-growing market segments for high concentration Omega-3 fatty acids. FMC's acquisition will include Epax's two world-scale production facilities in Alesund, Norway, and Seal Sands, U.K.
The market for supply of Omega-3 fatty acids is $2.1 billion per year, projected to grow 12 percent to 15 percent annually. Consumer awareness about cardiovascular, brain, and numerous other health benefits of Omega-3—supported by years of scientific studies and regulatory organizations—continues to drive strong demand, especially for high purity, highly concentrated products.
"For decades, FMC has been known in the pharmaceutical and food markets as a leader in functional ingredients—highly focused on customer needs, product quality and consistency, and customized innovation," said Mike Smith, vice president and global business director, FMC Health and Nutrition. "This acquisition introduces a premium Omega-3 fatty acid technology and brand to our portfolio of microcrystalline cellulose, alginates, carrageenan, pectin and other functional ingredients. We look forward to working with the Epax team to serve the market with an even broader portfolio of products, particularly in the high growth nutraceutical market."
As a part of the overall transaction, FMC has entered into a long-term supply agreement with Trygg Pharma to provide Trygg with high-concentration Omega-3 fish oil for use as an active pharmaceutical ingredient.
Bank of America Merrill Lynch acted as sole financial advisor to FMC on this transaction. About Trygg Pharma Group AS Trygg Pharma Group AS is a 50/50 joint venture between the Norwegian biotechnology company Aker BioMarine AS, a subsidiary of Oslo Stock Exchange listed Aker ASA, and private investment firm Lindsay Goldberg.
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