Formula rebounds, Amerifit grows in Martek Q2
This article was originally published in The Tan Sheet
The infant formula market's rebound from 2009 lows helps boost Martek Biosciences' total product sales 35.1 percent to $119.1 million in the February-April period. Second-quarter sales of Martek's formula ingredients reached $86.3 million, up 11.5 percent, helped by gains in Asia, executives said June 3. Amerifit Brands, which Columbia, Md.-based Martek acquired in January, generated $18 million in revenue and $1.9 million in operating income. Martek plans to launch finished supplement products through Amerifit in 2011 (1"The Tan Sheet" Jan. 25, 2010). Additionally, the company continues seeking new applications for its algal life'sDHA. Martek announced June 2 the omega-3 ingredient will fortify sauces and dressings at sandwich chain Quiznos
You may also be interested in...
Martek Biosciences' proposed acquisition of Amerifit Brands for $200 million would mark the omega-3 DHA ingredient supplier's first major foray into consumer marketing and would substantially expand the firm's portfolio
Public Company Edition: Lixte’s small uplisting was the only biopharma initial public offering in the US during Thanksgiving week, but IPOs are ramping up again. Also, LifeSci launched its second SPAC and in follow-on offerings Reata brought in $281m and Intellia grossed $175m.
Orladeyo is the first oral prophylactic approved in the US for hereditary angioedema, with Japan and EU approvals expected to follow. Pricing of $485,000 a year undercuts segment leader.