According to the terms of their agreement, Neptune and Yoplait will proceed to complete the development of flavoursome dairy products containing Neptune Krill Oil (NKO) which will be clinically tested for their effect on widely prevalent chronic conditions. Yoplait's intention is to first launch the approved products in strategically chosen countries followed by a worldwide roll-out. Neptune will supply its NKO and will also be receiving an upfront fee followed by milestone payments and distribution royalties.
"This alliance endorses Neptune's strategic development, and it also represents a major achievement in the functional food business with a world leading food company," said Henri Harland, president and CEO at Neptune. "Since the creation of Neptune the functional food market has been key to the company's strategy. Neptune has been developing its product (NKO) to be well positioned and in compliance with new regulatory requirements, the first of which will be enforced in Europe by July 2007. Furthermore, in order to achieve Neptune's business plan, we always recognize the importance of partnering with international leaders who are able to conduct required clinical studies and invest in huge advertising campaigns to demonstrate the real value of our product (NKO) in functional food. These are the keys to success in the functional food market," added Harland.