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Pharmanex

This article was originally published in The Tan Sheet

Executive Summary

Cholestin marketer secures $11 mil. in new equity financing from a group of Swiss banks that will assist the Simi Valley, Calif. firm with the launch and marketing support of its 31-item Premium Self-Care Botanical Extracts line, which began shipping in June. The company recently agreed with FDA to modify certain structure/function claims for some of the single-ingredient products, including goldenseal, evening primrose oil and cranberry in response to an agency "courtesy" letter ("The Tan Sheet" July 20, p. 17). The Swiss consortium includes the private partnership bank Lombard Odier, which manages a nutrition fund, Pharmanex notes. The new capital also will help support additional R&D efforts at the firm, as well as additional marketing support for all Pharmanex dietary supplements...

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