Nutriband Inc. Begins Manufacturing for Major Sports Brand Licensee Fit for Life Group, Whose Collection of Partnered Brands Include Reebok, Adidas and New Balance
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Insights
The engagement of Nutriband Inc. by Fit For Life Group represents a strategic move to diversify its client base and enter the health and fitness accessories market. The transdermal technology expertise of Nutriband could potentially lead to innovative product offerings in the fitness segment, which is a growing industry. The involvement of large retailers like Target and Walmart in FFL's distribution network could provide Nutriband with significant exposure and sales volume, assuming the products resonate with consumers.
It's important to note that the success of this partnership will largely depend on the consumer acceptance of the new products and the ability of Active Intelligence to meet the manufacturing demands of FFL. If successful, this could lead to a recurring revenue stream for Nutriband and could positively affect the company's stock value. However, investors should be aware of the risks associated with new market entries and partnerships, including potential delays in product development and unforeseen costs.
The announcement of a first order from a major brand license holder like FFL is a positive development for Nutriband, signaling potential revenue growth. However, investors should look for the fully executed supplier agreement to gauge the long-term financial impact. The order could indicate confidence in Nutriband's manufacturing capabilities, which may be reflected in the company's future earnings reports.
While the immediate financial impact may be limited until the supplier agreement is finalized and orders are fulfilled, the long-term implications could be substantial. Investors should monitor the execution of the upcoming agreement and subsequent orders to better understand the potential for increased market share and revenue. It will also be important to track the margins on these products, as contract manufacturing can vary in profitability.
Nutriband's foray into a partnership with a fitness-oriented company like FFL could signal a strategic alignment with wellness trends. The pharmaceutical industry is increasingly intersecting with lifestyle and fitness sectors and Nutriband's expertise in transdermal technologies could be leveraged to create unique offerings that combine medication delivery with fitness products.
The potential for cross-industry innovation here is notable and if Nutriband can successfully integrate its transdermal technology into fitness products, it could set a new industry standard. However, the challenge will be in maintaining the quality and efficacy of these products while scaling up to meet the demands of FFL's extensive retail network. The ability to deliver on these fronts will be critical for Nutriband's reputation and continued business growth.
ORLANDO, FL / ACCESSWIRE / April 1, 2024 / Nutriband Inc. (NASDAQ:NTRB)(NASDAQ:NTRBW), a pharmaceutical company with a specific focus on transdermal technologies, today announces it has been engaged by and received a first order from Fit For Life Group (FFL), a major brand license holder. A fully executed supplier agreement is expected to follow. Nutriband Inc.'s wholly owned contract manufacturing subsidiary, Active Intelligence, will act as manufacturer.
Founded in 2016, Fit for Life Group has become a market leader for fitness equipment and yoga accessories. FFL has amassed an impressive portfolio of brands including Gaiam, Reebok, Adidas, New Balance, SPRI and FILA. FFL is committed to creating innovative products for everyone, from beginners to pros. FFL's distribution and retail partners include larger national retailers such as Target, Walmart, Dick's Sporting Goods and Amazon.
"This purchase order from FFL allows Nutriband and our contract manufacturing subsidiary, Active Intelligence, to once again demonstrate our capabilities in the development and manufacturing of innovative products. We are excited to continue to showcase Active Intelligence's capabilities and innovation by partnering with some of the world's largest brands," said Gareth Sheridan, CEO of Nutriband.
About Nutriband Inc.
We are primarily engaged in the development of a portfolio of transdermal pharmaceutical products. Our lead product under development is an abuse-deterrent fentanyl patch incorporating our AVERSA™ abuse-deterrent technology. AVERSA™ technology can be incorporated into any transdermal patch to prevent the abuse, misuse, diversion, and accidental exposure of drugs with abuse potential.
The Company's website is www.Nutriband.com. Any material contained in or derived from the Company's websites, or any other website is not part of this press release.
Forward-Looking Statements
Certain statements contained in this press release, including, without limitation, statements containing the words ‘'believes," "anticipates," "expects" and words of similar import, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve both known and unknown risks and uncertainties. The Company's actual results may differ materially from those anticipated in its forward-looking statements as a result of a number of factors, including those including the Company's ability to develop its proposed abuse-deterrent fentanyl transdermal system and other proposed products, its ability to obtain patent protection for its abuse technology, its ability to obtain the necessary financing to develop products and conduct the necessary clinical testing, its ability to obtain Federal Food and Drug Administration approval to market any product it may develop in the United States and to obtain any other regulatory approval necessary to market any product in other countries, including countries in Europe, its ability to market any product it may develop, its ability to create, sustain, manage or forecast its growth; its ability to attract and retain key personnel; changes in the Company's business strategy or development plans; competition; business disruptions; adverse publicity and international, national and local general economic and market conditions and risks generally associated with an undercapitalized developing company, as well as the risks contained under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form S-1, Form 10-K for the year ended Jan. 31, 2023, filed April 26, 2023, the Forms 10-Q's filed subsequent to the Form 10-K in 2023, and the Company's other filings with the Securities and Exchange Commission. Except as required by applicable law, we undertake no obligation to revise or update any forward-looking statements to reflect any event or circumstance that may arise after the date hereof.
For more information, contact:
RedChip
Email: Info@redchip.com
Phone: 1-800-REDCHIP (733-2447)
Address:
431 E Horatio Ave, Suite #100,
Maitland, FL 32751
Nutriband Inc.
Phone: 407-377-6695
Email: Support@nutriband.com
SOURCE: Nutriband Inc.
View the original press release on accesswire.com
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