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Forbes Medi-Tech

This article was originally published in The Tan Sheet

Executive Summary

Phytrol functional food products slated for late July test launch in two U.S. cities by Novartis/Quaker Oats joint venture Altus, Forbes reports July 3. Line of phytosterol-containing drinks, cereals and bars will be sold under Quaker Take Heart brand and be competitively priced with other specialty products. Revenue from Phytrol sales for fiscal Q3 (ended April 30) totaled approximately $232,000 (CAN$351,000), although majority of sales in preparation for test market launch were completed by February 2001, Forbes says. Phytrol sales for first nine months totaled about $1.3 mil. Vancouver-based firm reports Q3 net loss of roughly $2.2 mil., compared to $1.9 mil. loss in year-ago quarter. Company aims to launch CardioRex dietary supplement for cholesterol control in first half of 2002
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