Martek revenues grow
This article was originally published in The Tan Sheet
Executive Summary
Martek Biosciences' fiscal 2008 fourth-quarter revenues grew 10 percent to $90.4 million based in part on the strength of its international infant formula market growth and launches of products containing its life'sDHA, the Columbia, Md.-based firm announces Dec. 11. The firm's infant formula market grew 7 percent in the quarter ending Oct. 31 as Martek signed deals including an arrangement to supply the Swiss firm Hero Group with docosahexaenoic and arachidonic fatty acids for use in infant formula (1"The Tan Sheet" Oct. 6, 2008, In Brief). Despite increased revenues, net income is down to $10.5 million compared to $18.3 million in the year-ago quarter. The firm says current economic conditions will present challenges, but expects continued growth
You may also be interested in...
Martek supply deals
Swiss firms Hero Group and Hochdorf Nutricare will use docosahexaenoic and arachidonic fatty acid only from Martek Biosciences in their food products, the supplier says. Hero will add Martek's oils to its infant formula products, weaning foods and medical foods for dietetic purposes, while Hochdorf will market formulas with Martek's ARA in China and Europe. The agreement with Hero is another step to expand Martek's international presence in the infant formula market, says Ethan Leonard, VP of pediatric nutrition for Columbia, Md.-based Martek. The firm also has supply deals with Hero subsidiaries Beech-Nut and Semper, which use DHA and ARA for infant formulas sold in Finland, Latvia, Lithuania and Sweden (1"The Tan Sheet" Aug. 22, 2005, In Brief)
Xaira Launches With $1bn-Plus And End-To-End AI Strategy
ARCH and Foresite incubated the company and recruited Genentech R&D veteran Marc Tessier-Lavigne to keep data generation, machine learning research and drug development under one roof.
‘Clear’ Is In The Eye Of The Beholder, New York, CRN Argue In Age-Restricted Sales Litigation
CRN’s request for clarification, as it continues litigating complaint in US District Court for Southern New York, highlights what it contends is vague and overly general language in the legislation passed in October with a 22 April effective date.