Nutrition Care Pharmaceuticals Joint Venture Announcement

Pharmaceuticals Joint Venture

I have great pleasure in announcing that my company, Nutrition Care Pharmaceuticals Pty. Ltd. (Nutrition Care) and Ausnutria Ltd., a publicly listed company on the Hong Kong stock exchange, have formed a joint venture for the purpose of developing and growing the business of Nutrition Care globally.

Ausnutria specialises in infant formulae and in particular goats milk infant formulations. Ausnutria has a very strong business in China. It sources its raw materials from Europe. The directors of Ausnutria see the value of a highly professional brand of nutraceuticals. The fact that Nutrition Care also manufactures its own products under the stringent regulations of the TGA makes Nutrition Care a very desirable business for a joint venture.

This JV will further strengthen Nutrition Care’s business and enable it to expand its manufacturing plant. New product innovation will be a further strength because Ausnutria has links with high quality raw material suppliers. Ausnutria has a very wide network of associated companies, which will give Nutrition Care the ability to be one of the most innovative nutraceutical companies in the world.

As you know, Nutrition Care is one of the very few companies in Australia manufacturing its own products in addition to making products for third parties. Together with Ausnutria, the new JV company will be able to further develop its manufacturing facility in Melbourne. It will also enable greater specialisation in various areas, especially probiotics.

The JV will result in the formation of a new company. I will remain as a director and significant shareholder of the JV company and maintain a very active role into the future.

The staff and management will not be changing significantly. There will be another director on site from Taiwan, representing one of the major shareholders of Ausnutria. We welcome Ms. Cecily Chuang.

These changes are some of the most significant for the company, its professional customers and in many respects the nutraceutical industry. I am extremely excited going into the future because it promises more in terms of research, new product development and informatics that the industry and profession require. I foresee many changes in nutraceuticals and herbal medicines. Those changes promise to become the greatest significant improvements in health care delivery in decades. Please enjoy with us these changes and the start of a new journey.

Professor Ian Brighthope Managing Director

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