Monday, 6 June 2011

Neptune Expands To India

Neptune Technologies & Bioressources
NTB - TSX V) (NEPT - NASDAQ)
Basic Shares: 48.2 million
Fully diluted: 53.9 million

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Neptune Technologies has engaged a well-known professional to help it break into one of the biggest and most complex markets in the world - India.

With a population of 1.2 billion that speaks a minimum of 22 official languages, a booming economy and a rapidly expanding middle class of some 300 million that has always been culturally rooted in alternative medicines, it's a natural fit for Neptune's Krill Oil.

But to ensure success, Neptune appointed Raj Nakra Associates as its agent, Neptune said in a news release issued today.

Managing Director, Raj Nakra, is a chemical engineer who has his MBA and has been in the industry for over 30 years. His firm already represents worldwide recognized brands and he has an intimate knowledge of the Indian market within the pharmaceutical industry, dietary supplement and functional food industries.

For his part, Mr. Nakra said he, too, took a long, hard look at all krill oil producers before tucking Neptune under his wing. ‘‘After evaluating different novel products to promote in India, we came to the conclusion that Neptune Krill Oil stands above all’’ stated Mr. Nakra.

Neptune estimated sales in India could account for 15% of its overall revenues within just five years.

To read the full news release, please click here.