Pronova BioPharma to foray into consumer healthcare market

Over the next year, the company will develop its business in the omega-3 consumer healthcare market with initial focus on high concentrate dietary supplement market.

The dietary supplement market is expected to double in size over the next five years, the company said.

The development of the Consumer Healthcare business will leverage the company’s pharmaceutical business, which manufactures omega-3 derived pharmaceutical drug, Omacor/Lovaza.

Pronova BioPharma has set up high concentrate omega-3 manufacturing facilities in Norway and Denmark in the recent years with an investment of $500m.