PURCHASE, N.Y., Dec. 3 /PRNewswire-FirstCall/ -- Nutrition 21, Inc. (OTC Bulletin Board: NXXI), the developer and marketer of nutritional ingredients for the dietary supplement, and functional food and beverage markets announced today that chromium picolinate has been added to the approved list of ingredients allowed to be used in food supplements in the European Union (EU). In addition, the Company announced it has reached an agreement with Ingredia Nutritionals to distribute its Chromax chromium picolinate and Diachrome ingredients throughout the EU and selected markets in the Middle East, Africa and Asia.
The revised list of approved ingredients that can be used in EU food supplements, which now includes chromium picolinate, was published Tuesday in the Official Journal of the European Union. Although the sale of chromium picolinate has been previously allowed in the United Kingdom, it can now be sold in all other EU countries.
Ingredia Nutritionals is based in Arras, France. Its parent, The Ingredia Group, has three areas of focus: food ingredients, health and nutritional ingredients, and related manufacturing activities. Ingredia Nutritionals markets and distributes a select group of premium quality, innovative, and science substantiated ingredients throughout Europe, Asia and the Middle East.
William J. Levi, Vice President, Ingredients and Special Markets, stated, "We are delighted to have signed a distribution agreement with Ingredia so that we may begin marketing Chromax and Diachrome throughout the European Union in coordination with chromium picolinate's formal EU approval. Ingredia has a highly competent and dedicated team of formulators, nutritional experts and sales professionals that are dedicated to helping their customers find innovative nutritional solutions."
Michael A. Zeher, president and chief executive officer of Nutrition 21, Inc., concluded, "Our continuing effort to develop our international business has been immensely improved with the approval of Chromax and Diachrome in the EU, and our retention of Ingredia Nutrition as our sales and marketing partner. Ingredia Nutrition's vast international sales network - with commercial presence in more than 120 countries - will significantly benefit our long term international business growth plans."
About Nutrition 21
Nutrition 21, Inc. (OTC:BB: NXXI.OB), headquartered in Purchase, NY, is a nutritional bioscience company and holds over 30 issued and pending patents associated with chromium picolinate as well as combinations of chromium compounds with other dietary supplement ingredients. Its ingredients are sold to leading dietary supplement, and functional food and beverage manufacturers. Nutrition 21 also provides consumers with chromium picolinate-based and omega-3 fish oil-based supplements with health benefits substantiated by clinical research. Nutrition 21's portfolio of health and wellness products include: Iceland Health Chromax®, Iceland Health Advanced Memory Formula(TM), Diabetes Essentials, Iceland Health® Maximum Strength Omega-3 and Iceland Health® Joint Relief. The company also manufactures private label supplements for third parties. Nutrition 21 distributes its products nationally through more than 29,000 major food, drug and super center stores throughout the United States and internationally. For more information please visit http://www.nutrition21.com.
Safe Harbor Provision
This press release may contain certain forward-looking statements. The words "believe," "expect," "anticipate" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the Company's current expectations and are subject to a number of risks and uncertainties, including without limitation: the effect of the expiration of patents; regulatory issues; uncertainty in the outcomes of clinical trials; changes in external market factors; changes in the Company's business or growth strategy or an inability to execute its strategy due to changes in its industry or the economy generally; the emergence of new or growing competitors; various other competitive factors; and other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission, including its Form 10-K/A for the year ended June 30, 2009. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this press release will in fact occur. Additionally, the Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.
Company Contact: Investors Contact William J. Levi Alan Kirschbaum Vice President Chief Financial Officer 914-701-4500 914-701-4500
SOURCE Nutrition 21, Inc.