Forbes Medi-Tech is expecting future growth for its branded
nutraceutical business to be borne of its milestone deal with
leading UK retailer Tesco, yet is philosophical that it will
continue reporting losses until one of its ventures...
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 MediTech is to continue supplying Pharmavite with its
Reducol cholesterol-lowering ingredient until at least mid-2007, in
an extension of the existing supply and license agreements.
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.
2005 is barely underway but Canadian Forbes Medi-Tech is already
looking forward to a bumper year. The biopharmaceutical company
yesterday announced revenue guidance of C$21 to C$22 million for
the fiscal year ending 31 December 2005...
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.