Biopharmaceutical company Forbes Medi-Tech said yesterday it has extended a contract to supply its cholesterol-lowering ingredient Reducol to supplement company Pharmavite, for use in the Nature Made Cholest-Off product.
The announcement follows the FDA approval last week for the use of the phytosterol heart-health claim to be applied to Forbes' range of phytosterol products, including Reducol.
The contract, extended for a further three years, calls for an undisclosed amount of Reducol to be purchased each year to maintain Pharmavite's exclusive rights to the mass-market distribution channel in the US.
"Pharmavite is a key partner in our co-branding strategy for Reducol," said Jeff Motley, vice president of commercial operations at Forbes. He added that the contract ensures the continued incorporation of Reducol in the Nature Made supplement.
Jim Lundeen, Pharmavite vice president, added : "This agreement represents Pharmavite's strong commitment to the cholesterol-lowering dietary supplement market. We are looking forward to growing sales and furthering the development of Cholest-Off."
Pharmavite recently launched its 2003 media campaign, including both newspaper and magazine advertising, to publicize its range of dietary supplements. The year long newspaper campaign will circulate over 41.9 million copies, said the company. It is aiming to drive growth in the burgeoning heart health market with the campaign.
Cholest-Off, which retails at around US$8.99 for 60 tablets, contains 0.45 grams of Reducol in each capsule.