NEW YORK, Nov. 19, 2021 /PRNewswire/ -- Dietary supplement products are now part of a rapidly growing market. The growth in demand for such products can be attributed in part to rising health and fitness concerns. In addition, increasing demand for sport industry supplements is likely to have a positive impact over the projected timespan on the profit margin level of the market. The supplement market encompasses various segments including sports foods, medicinal supplements, and additional supplements, depending on use. Because of the increasing value of the sport industry worldwide, sport nutrition is expected to be the fastest-growing segment of the market in the next few years. And, according to data provided by Facts & Factors, the global dietary supplements market size was estimated at USD 167.8 Billion in 2019 and is expected to hit a record value of USD 306.8 Billion by 2026 while at a CAGR of 9%. Todos Medical Ltd. (OTCQB: TOMDF), Herbalife Nutrition Ltd. (NYSE: HLF), Sprouts Farmers Market, Inc. (NASDAQ: SFM), Nu Skin Enterprises, Inc. (NYSE: NUS), Unilever PLC (NYSE: UL)
Another factor which played a role in the development of the supplement market is, of course, the pandemic. Since the pandemic spread throughout the United States and the world, the need for alternative healthcare options has become clear. As a result, new technologies and innovation will continue to play a major role in drug and therapeutic developments in the coming years. For instance, the telehealth sector includes a wide range of technological segments under its umbrella. Specifically, technologies such as telemedicine, robots, and chatbots are being deployed to help gather information, reassure the population, treat patients, make diagnoses, and even prepare future vaccines.
Todos Medical Ltd. (OTCQB: TOMDF) announced breaking news yesterday that, "it has entered into an exclusive European licensing & distribution agreement with T-Cell Protect Hellas S.A. (T-Cell Protect) for a product based on its Tollovid® and Tollovid Daily™ 3CL protease inhibitor and immune support dietary supplements. The product will be marketed under the T-Cell Protect brand throughout 30 countries in Europe with the agreement calling for a minimum of 500,000 bottles in sales over 18 months. More information about the product can be found at www.tcellprotect.com. Under the terms of the agreement, T-Cell Protect will purchase finished product at wholesale from Todos until such time as T-Cell Protect establishes manufacturing capabilities at a facility it currently operates in Greece to support the European market. At such time, Todos will then receive double-digit royalties on the sales of the licensed product manufactured by T-Cell Protect. The Company anticipates revenue to be generated from this agreement beginning in the current quarter.
Concurrent with this announcement, T-Cell Protect has made an investment of 1 million euros in Todos Medical to support the clinical development of Tollovir, the Company's 3CL protease inhibiting antiviral drug candidate, and will receive exclusive marketing rights for Tollovir in Greece. T-Cell Protect intends on initiating the process for conditional Emergency Use Authorization of Tollovir to meet the increasing demand for the prevention and treatment of Coronaviruses, including COVID-19.
'We are very excited to introduce and launch this new daily dietary supplement to the European Market based on the Tollovid dietary supplement formulas for people looking for additional targeted immune support,' said Themis Filippopoulos, President & CEO of T-Cell Protect. 'It was clear to us that we should focus on natural supplements because it's an area that we are aligned with and where we believe we can make a real difference to people's lives across the world. With consumers becoming increasingly more focused on immune support products that utilize natural ingredients, we believe that the formulations utilized in the Tollovid products will ideally position our new T-Cell Protect supplement products to capture a significant market share for the rising class of 3CL protease inhibitors. We are also excited to invest in the development of Tollovir, especially with the recent significant increase in interest in 3CL protease inhibitor antiviral products. We intend to work diligently with the team at Todos to secure market authorization as quickly as possible.'
'We believe this distribution agreement & related investment validates our commercial approach for our Tollovid and Tollovid Daily products,' said Gerald E. Commissiong, President & CEO of Todos Medical. 'As we continue to make significant progress with our Tollovir 3CL protease inhibiting biology programs, we believe this promising therapeutic will have a significant impact on human health going forward.'
'We look forward to working with T-Cell Protect to bring our game-changing therapeutic product candidate Tollovir to market to treat patients with COVID-19 in Greece,' said Dr. Dorit Arad, Founder & Chief Scientific Officer of NLC Pharma, Todos' 3CL biology joint venture partner."
Herbalife Nutrition Ltd. (NYSE: HLF) announced back in September that it opens its doors and begin shipment of its first orders from its newest distribution center in Hagerstown, Maryland. The new 178,000 square foot facility will help meet the growing demand for the company's nutrition products and will service the distribution needs for the Eastern and Northeastern regions of the United States. The facility will employ approximately 85 people and contribute approximately $6 million annually to the local economy. "Spurred on by years of growth as our distributors delivered valuable nutrition solutions to customers across the nation, our new distribution facility allows us to better serve our quickly expanding customer base, while also creating further efficiencies for the company," said Mark Schissel, Chief Operating Officer for Herbalife Nutrition.
Sprouts Farmers Market, Inc. (NASDAQ: SFM) announced earlier this year that it has opened a new produce distribution center in Orlando, marking its first distribution center in Florida and its seventh across the country. Since opening its first store in the state in 2017, Sprouts has been rapidly expanding across Florida. The center will serve all the grocer's current 23 stores in the state and the additional 10 locations planned to open in Florida this year. The 135,000 square-foot facility was built for Sprouts and includes 34°F and 55°F storage and fruit ripening rooms that are ideal for the wide variety of fresh produce Sprouts offers. Sprouts recently announced it will drive efficiencies across its network of fresh distribution centers by locating them within 250 miles of the stores they serve, allowing for fresher, local assortment. "With organics representing more than a third of our produce business in Florida, we know shoppers across the state are interested in fresh, affordable organics and local varieties," said Chief Fresh Merchandising Officer Scott Neal. "We've put together a team of local produce buyers to bring to market the freshest, local product available. Additionally, the new center's state-of-the-art ripening rooms provide the ideal climate for produce storage and will immediately provide shoppers with perfectly-ripe avocados and bananas."
Nu Skin Enterprises, Inc. (NYSE: NUS) develops and distributes personal care and wellness products worldwide. It provides skin care systems, including ageLOC Me customized skin care and ageLOC Spa systems, and ageLOC LumiSpa skin treatment and cleansing devices; and Epoch products comprising botanical ingredients derived from renewable sources, as well as a range of other cosmetic and personal care products. The company also offers ageLOC Youth nutritional supplements, ageLOC TR90 weight management and body shaping systems, and LifePak nutritional supplements, as well as other anti-aging nutritional solutions and weight management products.
Unilever PLC (NYSE: UL) announced last year that it has signed an agreement to acquire SmartyPants Vitamins, a U.S.-based Vitamin, Mineral & Supplement company. Based in Los Angeles, SmartyPants Vitamins was founded in 2011 by entrepreneurs Courtney Nichols Gould and Gordon Gould, who set out to create a comprehensive supplement made from premium ingredients to support the wellbeing needs of children and adults. SmartyPants Vitamins has a simple yet powerful promise: to be smart, simple and true. SmartyPants works with non-GMO certified ingredients and a range of sustainably sourced bio-available nutrients. Their product range is free from synthetic colors, artificial flavors, sweeteners and preservatives.
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