Thursday, Martek Biosciences Corp. (MATK), a provider of healthcare products from Microbes, announced a multi-year, exclusive supply agreement with Ragasa, a Mexican agribusiness supplier for the food industry. As per the agreement, Ragasa would purchase its requirement of DHA omega-3 from Martek. Further, Ragasa would launch a consumer product featuring Martek's life'sDHA, in 2009.
Further, Martek said, Ragasa also agreed to display the life'sDHA logo on the product packaging and include the logo in its marketing, advertising and promotional materials.
Commenting on the deal, David Abramson, Martek president said, "Martek finds it rewarding to partner with Ragasa, a Mexican agribusiness leader, to make life'sDHA more readily available to Mexican consumers of all ages,"
According to Martek, DHA omega-3, a long-chain omega-3 fatty acid, serves as a primary building block for the brain and the eyes and supports brain, eye and cardiovascular health throughout life. Clinical studies are in progress to assess the role of DHA in decreasing the prevalence of certain neurological disorders. Experts have noted that DHA is an important nutrient for health throughout the life cycle. life'sDHA offers vegetarian form of DHA that contains no oceanic pollutants.
MATK closed its regular trading Thursday at $19.70, up $2.37 or 13.68% on a volume of 986.75 shares
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