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Martek DHA venture

This article was originally published in The Tan Sheet

Executive Summary

Fatty-acid manufacturer signs $10 mil. collaborative agreement with Canadian biotechnology company SemBioSys Genetics to develop plant-based docosahexaenoic acid (DHA) products, Martek CEO Henry Linsert notes during Dec. 16 earnings call. Linsert says that he expects the venture to last five to eight years and believes "if it is successful, it could reduce DHA manufacturing to one-tenth the cost," thereby allowing the firm to achieve widespread sale of the ingredient (1"The Tan Sheet" Sept. 29, 2003, p. 14). Currently, Martek sells DHA and arachidonic acid (ARA) to infant formula manufacturers Mead Johnson, Wyeth, Abbott Labs and Nestle. The firm achieved revenues of $38.6 mil. for the fourth quarter ended Oct. 31 and $114.7 mil. for fiscal year 2003 on sales of the two nutritional products. Martek's net income totaled $6.2 mil. and $16 mil. over the two periods...
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