Boomtime for nutritional oils

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Related tags: Docosahexaenoic acid

Martek Biosciences Corp., a Columbian company that makes products
from microalgae, reported a 166 per cent increase in sales of its
nutritional oils for infant formula.

Martek Biosciences Corp., a Columbian company that makes products from microalgae, reported a 166 per cent increase in sales of its nutritional oils for infant formula. The sales helped in narrowing down its third-quarter loss, the company added. In the three months ended July 31, the company lost $3.3 million (3.5 million euros), compared with a loss of $3.8 million (4.1 million euros) in the same quarter a year earlier. The company's revenue more than doubled, to $5.6 million (6 million euros), up from $2.5 million (2.7 million euros) last year. Sales of its nutritional products rose to $4.9 million (5.3 million euros), from $1.9 million (2.1 million euros). These additives are sold in more than 60 countries by major formula makers, who license the oils from Martek. In May, the Food and Drug Administration approved their use in infant formula in the United States.

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