The acquisition will enable the company to utilise PharmItBe’s comprehensive research laboratories to accelerate their production process, ensuring their continued compliance to strict quality standards whilst improving efficiency of the supply chain process.
As part of the acquirement, the company has assigned PharmItBe’s former CEO, Dr. Evgenia Lozinsky, as head of R&D at TopGum, to oversee the innovation of future products.
Lozinsky enters the team with extensive expertise in the field of nutraceutical research and drug production, including a PhD in chemistry and 20 years of experience within R&D management at an array of companies.
Lozinsky comments: “I am eager to lead TopGum’s R&D and channel our mutual experience to bringing the company to new heights.”
She adds: “PharmItBe found the perfect ‘family’ to continue its journey, and as an experienced formulation and chemistry analytical developer, I look forward to working closely with TopGum’s management team to further the company’s vision and success.”
Amichai Bar-Nir, CEO of TopGum, comments on the predicted success the move will bring his company: “The PharmItBe team’s expertise in pharmaceutical regulations and GMP analysis will take TopGum to the next level in the manufacturing of future OTC products.”
“In addition to working synergistically with TopGum, PharmItBe will continue as a subsidiary to provide services independently to third parties,” he adds, with regards to the continuation of PharamItBe’s activity alongside the acquisition.
Topgum offers an array of gummy products, including dietary supplements ranging from ‘everyday nutrition’ lines, such as their vitamin and mineral gummies, to ‘digestion’ lines with pro- and prebiotic types. Their additional nutraceutical products are formulated to support areas such as mood, beauty, and attention.
With the global dietary supplements market estimated to be worth $140.3 billion in 2020, a report noted the significance of the gummy supplement market within this space, currently valued at $4.1 billion. It is estimated that gummies will continue to grow to reach $7.5 billion by 2028.
Menahem Alexhander, Marketing Director at TopGum, spotlights the younger generation in driving this growth, telling NutraIngredients: “At first the gummies market was a kids-oriented one, but in the recent years we are seeing a shift towards Millennials and the younger Gen-Z generation which seem to be the biggest gummy consumers looking for gummies as a supplement.”
Considering this continually advancing category, Alexhander hints at future company growth: “Recent investments in the new factory will help us to open a door to the pharmaceutical industry. That will bring us, as a company, onto the next level and introduce even more breakthrough innovative products to our customers than before”.
“It is exciting to have PharmItBe join the TopGum family. I look forward to our developing the next generation of gummy supplements. This acquisition makes it possible to improve our supply-chain process and meet the highest quality standards internationally, which will allow us to provide better service to our customers worldwide. Our ability to deliver on innovation, quality, and service should be greatly enhanced,” Bar-Nir adds.