EZZ to enter key US market after FDA approves nine products in the food category
US provides access to large and growing consumer base for its healthcare products
EZZ says FDA approvals reinforces high standards of its product formulations and manufacturing processes
Genomic life science company EZZ Life Science has achieved a key milestone with the US Food and Drug Administration approving nine of its products in the food category.
EZZ Life Science (ASX:EZZ) says the US market represents a significant opportunity for the company with online sales of health supplements totalling US$23.8 billion in 2023.
EZZ says the nine FDA approved products were selected by the company due to their success in other markets and will form the basis of the initial market launch. The products include:
EZZ Children’s Essential Minerals
EZZ Children’s Eye Health
EZZ Bone Growth Chews
EZZ Brain Focus
EZZ Magnesium Plus
EZZ Aloe Vera Probiotic Capsules
EZZ Liver Detox
EZZ Joint Energy Boost Tablets
EZZ Men’s Performance
EZZ has registered a wholly owned US subsidiary, EZZ Life Science Holdings (USA) Inc, which will be used as the trading entity for that market.
‘Monumental achievement for EZZ’
EZZ chairman Glenn Cross says the company is “thrilled to have received FDA approval” for a range of its products.
“This is a monumental achievement for EZZ and a validation of our commitment to excellence in product quality and innovation,” he says.
“Entering the US market is a pivotal part of our plans for future growth, and we are excited about the opportunities this approval presents.
“We look forward to bringing our high-quality products to consumers in the United States and continuing to drive value for our shareholders.”
Strong growth trajectory
EZZ has a focus on genomic research and development to address four key human health challenges including genetic longevity, human papillomavirus (HPV), children’s care, and weight management.
The company has more than 50 EZZ-branded products. It also has exclusive distribution rights for the EAORON brand of skin care products to pharmacies, supermarkets and specialist retailers in Australia and New Zealand.
EZZ has been on a strong growth trajectory in 2024, recently inking a deal with Hong Kong-based Pinehills for the supply of EZZ-branded products.
Pinehills will purchase EZZ-branded products with a total value of at least $15 million in the first 12-months of the five-year agreement.
The Pinehills deal is considered significant for EZZ as it continues to expand its presence in China and Southeast Asia.
EZZ recently reported a strong Q3 FY24. Receipts from customers were up 111% year on year to $23.6m for Q3, while the debt-free company had a 15% increase in cash balance over the previous quarter to $14.5m at March 31.
This article was developed in collaboration with EZZ Life Science, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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