Forbes Medi-Tech confirmed yesterday that it is to sell its pharmaceutical assets, freeing up the company the focus on further developing its nutraceuticals business.
Forbes Medi-Tech has reported an increase in sales of its Reducol
branded sterols in Q2 2006 by 32 per cent compared to last year,
but losses deepen with dearer development, marketing and sales
costs.
Following a decision in its first quarter to withdraw from supply
of non-branded phytosterol, Forbes Medi-Tech has revealed a
projected revenue cut of up to two-thirds for 2006, but has
nonetheless posted modest year-to-date profits.
Forbes Medi-Tech has completed the sale of its 50 percent share in
Phyto-Source, its sterol manufacturing joint venture with Chusei
(USA) to Chusei Oil Co for US$25 million, and plans to use the
proceeds to develop more nutraceutical...
Forbes Medi-Tech has reported a 23 percent increase in sales for
full year 2004 to C$17.04 million, almost all of which was
generated by its nutraceutical business.
Canadian company Forbes Medi-Tech said yesterday that it had
secured a sterols sales agreement for US$24.4 million (€20.01
million) over a three-year period beginning in January 2005.
Canadian company Forbes Medi-Tech said yesterday that it had
secured a sterols sales agreement for $24.4 million over a
three-year period beginning in January 2005.
Canadian sterol producer Forbes Medi-Tech says it is on track for a
10 per cent sales increase this year, providing funding for the
development of its pharmaceutical compounds.
Canadian firm Forbes Medi-Tech saw shares jump 10 per cent this
week following the announcement by the European Food Safety Agency
(EFSA) that its cholesterol-lowering ingredient Reducol is safe.
Strong growth in revenues has improved working capital at
phytosterol maker Forbes Medi-Tech this year, which should help
further growth in the nutraceutical activities.
Canadian biotech firm Forbes Medi-Tech announced today it has
raised US$4.65 million by way of a private placement, providing the
company with the necessary resources to 'expand its pharmaceutical
pipeline and continue development...
Cholesterol-beating ingredients continue to please the market with
innovative Canadian company Forbes Medi-Tech reporting a strong set
of figures for the first six months of the year. Revenues for the
period rose 29 per cent from...
Canadian firm Forbes Medi Tech an increase of 37 per cent in
revenue for the first quarter, helped by sales of sterols from the
Phyto-Source joint venture, currently exceeding expectations.
Canadian firm Forbes Medi-Tech has issued a statement saying that
Pan Pharmaceuticals, involved in a major product recall in
Australia, plays no part in the manufacturing of its Reducol
ingredient. Forbes also sold its ADD business...
FDA approval for use of the phytosterol heart-health claim has
given Canadian company Forbes Medi-Tech a major boost for its
cholesterol-lowering ingredient Reducol.
An agreement with Australia's Pan Pharmaceuticals will allow Forbes
Medi-Tech to produce and market its cholesterol-lowering ingredient
Reducol as a dietary supplement for the first time.
Shareholders in Forbes Medi-Tech approve a resolution allowing the
company to issue up to 25 per cent of its shares in order to raise
cash for future expansion.
After months of negotiations, Canadian nutraceutical products maker
Forbes Medi-Tech has finally reached an agreement with Swiss group
Novartis Consumer Health over the future of the Reducol
cholesterol-lowering ingredient.
Strong phytosterol sales in the first quarter for Canadian company
Forbes Medi-Tech doubles first quarter revenues from last year. The
company reported revenue of C$2.4 billion (€1.6bn), up from C$1.2
billion in the comparable period...
Forbes Medi-Tech remains bullish about its prospects for the future
despite the failure of the Novartis-Quaker Oats joint venture which
was meant to promote a range of foods containing Reducol, the
cholesterol-cutting ingredient developed...
Canadian group Forbes Medi-Tech, a producer of cholesterol-lowering
food ingredients, has been approached by Novartis Consumer Health
to help it find a buyer for the Take Heart line of food products
enriched with Forbes' Reducol.
Health science company Forbes Medi-Tech Inc. announced this week
that it has reached an agreement with Novartis Consumer Health SA
to acquire the licensing and distribution rights to consumer
products fortified with Reducol, the company's...