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Biotech / Medical : Forbes-Meditech, FMI,V

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From: Tadsamillionaire	2/7/2008 5:21:56 PM
	of 430

Forbes Medi-Tech Forecasts Strong Revenue Growth in 2008 Thursday February 7, 8:00 am ET VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Feb 7, 2008 -- Forbes Medi-Tech Inc. (Toronto:FMI.TO - News)(NasdaqCM:FMTI - News) today announced its revenue guidance for its sterol based business. The Company anticipates 2008 sales of $9.75 - $10.5 million, an increase of up to 20% compared to the range given for 2007 of $8.75 to $9.25 million. The revenue guidance is primarily based on the contracted and forecasted tonnage of Reducol(TM), and other value added products for sale into the functional food and dietary supplement markets. "We continue to demonstrate consistent growth in Reducol(TM) sales and related products," said Charles Butt, President and CEO of Forbes Medi-Tech. "Revenues derived from both our European food and US-based dietary supplement businesses showed strong double digit growth in 2007 compared to the previous year. While we continue to build our European business through both line extensions and the opening up of new markets, we also remain committed to launching a US food product containing Reducol(TM) in the near term." "The success of our ingredient business to date has provided us with the platform to develop alternative product forms which will help improve the nutritional business contribution to the Company in the mid term. An example of an alternative product form is the recent filing of two new patents for the protection of finished tablet technology, now being produced at a commercial scale and sold in Australia and New Zealand." Forbes Medi-Tech has consistently issued revenue guidance in the past in an effort to provide its shareholders with an updated revenue outlook in a timely manner. The 2008 revenue guidance includes assumptions that the contracted and forecasted amounts will be ordered and shipped as anticipated. biz.yahoo.com

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